Lending rates lowered in April once again

In April, just like in March, banks slightly lowered their rates once again. 67% of partner banks lowered their lending rates by 0.08% on average, while some reduced rates by up to 0.20%. About 30% of them decided not to change anything.

The attractive rate policy is well justified given the revival of property transactions. At Century 21, a French property network, sales increased by 8% during the first three months of the year (compared with the fourth quarter of 2009), and by 38.6% compared with the first quarter of 2009!

In 2010, rates went down on average by 0.05% over the first three months of the year (apart from rates for 30 years which remained stable). In 2009, rates were reduced by 0.15% for the same period.

Banks should keep their rates unchanged in the coming months, at least until the end of the third quarter of the year. Future property owners have then a few months to benefit from the current exceptionally low rates.

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