Since October, it is possible to notice an increase in usury rates, with an increase of 0.10% (10 basis points). For some borrowers, this increase constitutes very good news.
In the field of real estate loan, financing institutions are subject to some constraints, such as compliance with the debt ratio, which must not exceed 33% of resources of the borrower. It is also possible to cite another rule in force, namely the fixing of the rate of wear each quarter by the Bank of France. This wear rate is presented as being the maximum rate beyond which a financing institution does not have authorization to carry out a loan. In order to calculate this rate, the bank adds to the nominal rate of loan, the costs of brokerage, the costs of case, and the insurance costs and mandatory guarantees.
Even if the nominal rates have always been low, namely 1% over 20 years, a few borrowers has risks exceed this wear rate, noting the rise of their insurance cost. En octobre, les rate of wear and tear have, fortunately, experienced a slight increase of 0.10% (10 basis points), over durations of 10 years and more. Currently, this rate is estimated at 2.68% over 20 years and above, after a drop to 2.51% in the second quarter of 2020. This is the lowest level recorded in history, which brought exclusion many borrowers possible market. With this slight increase, the market is doing a little better, but also the modest borrowers who were subject to penalties because of consecutive declines of these rate over the last few months.
According to the general director of Vousfinancer, Julie Bachet, this increase of the rate of wear and tear is closely linked to the increase in credit rates noted after confinement. However, the rise of the costs of case applied by the banks can also be the cause. Despite this, the modest borrowers still remain affected, due to the increase in deviations of rates applied by financing institutions based on profiles. Indeed, it is possible to find in certain banks, depending on the profiles, rates over 20 years which range from 0.95% to 1.80%, rates over 25 years which range from 1.40% to 2.20 %, with an APR which can relatively exceed 2.68%. According to Julie Bachet, this ascent of the rate would only be passenger, because, out of prudence, banks do not authorize loans than to profiles that they judge better, to very low rate.
