Caroline Arnould, managing director of CAFPI, a brokerage firm, believes that the pause announced by the ECB and the level the usury rate reached in November are positive indicators.
Has there finally been a revival in the real estate market? While the lights are still far from green, many indicators are positive. “The statements of the European Central Bank (ECB) are encouraging,” emphasizes Caroline Arnould, managing director of the brokerage firm CAFPI. Last week the institution announced first break Since the start of tightening monetary policy in July 2022.
If the ECB’s rates are so important, it is because they influence the rates commercial banks charge their customers. However, in France there is no authority to lend above a certain threshold. wear rate. This tool, which was calculated quarterly and was supposed to protect households against excessive debt, later turned into the main obstacle for many potential buyers. “Some banks had stopped lending altogether,” explains Caroline Arnould.
Record level of wear rate
Since January, Bercy has decided to implement a monthly review to facilitate access and allow banks to raise credit ceilings more quickly. The impact of this provision may begin to bear fruit as the rate of usury increases. 5.91% in November For loans with a maturity of 20 years or longer, it is the highest level since 2009.
“Banks are getting breathing room to rebuild their margins,” says CAFPI’s chief executive. “So they will have more appetite to provide credit.” Specifically, he adds, “a retail bank needs to provide loans to open new accounts, sell insurance, collect savings to acquire new customers…”
But not everything is so rosy: “Banks are much more careful about customer profiles. The minimum contribution is also higher (currently 20% compared to 10% a year ago, Editor’s note)”.
