July French Mortgage Update

Real estate mortgage rates are still rising

L’Agence Nationale d’Information pour le Logement (the ANIL for short- the national agency which provides information on housing), published its latest market rate indicator last month,which correspond to the second quarter of 2011.

“The total French mortgage rate rise observed since the end of last year is still lower to a certain point, says the ANIL, but it is still enough to dispel the effects of the decreasing rates, throughout 2010.”

Thus by the end of May 2011 we found ourselves, according to the ANIL, with rates close to the those of the last quarter of 2009.

This hasn’t so far had an impact on the number of new mortgages, which according to the Banque de France, keep rising.

The ANIL bases its findings on the following:

– Information that comes direct from nine banks: Credit Foncier, Caisse d’Epargne, la Banque Postale, Credit Mutuel, Credit Agricole SA, BNP Paribas, Credit Immobilier de France, LCL Le Credit Lyonnais and UCB/Cetelem ;

– Social access, fixed rate and variable rate mortgages

– Mortgages that last 15 years.

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