Home loans: good news, rates are falling again in September!

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At the beginning of September, several mortgage brokers are reporting new rate cuts after stagnation in August. Rates that could fall to 3% by the end of the year.

You have been thinking about buying a property for several months but have decided to wait until the start of the school year, hoping for a further drop in mortgage rates. Well done! “After stagnating in August, rates started to fall again in September, in all banksand for all loan durations»Maël Bernier, communications director at Meilleurtaux, told Capital on Tuesday, September 3. The average 20-year credit rate fell by 0.20 points this month, compared to the beginning of August, to fall between 3.55 and 3.60%observes the broker’s spokesperson. The same observation at Vousfinancer, which reported, this Tuesday, rates down by 0.10 to 0.30 points, to 3.40% over 15 years, 3.60% over 20 years and 3.80% over 25 years. And the lowest negotiated rates reach 3.1% over 15 years, 3.2% over 20 years and 3.4% over 25 years.

Rates which thus return to their levels of 2014before the decline that began in 2015 which brought them below the 1% mark in October 2020. “A rate of 3.60% with inflation around 2%, as is currently the case, is something quite classic”estimates Maël Bernier. And it is a rate that allows you to borrow 15,000 euros more than a year ago, underlines Vousfinancer, taking the example of a couple who earn 4,000 euros per month and who wish to repay 1,320 euros of credit per month. A year ago, with a rate of 4.27%, they could borrow only 212,800 euros. Today, they can borrow 228,006 euros, thanks to a rate of 3.48%. “15,000 euros more still doesn’t save you much money. additional square meters but finances the renovation of a bathroom and a kitchen”illustrates Maël Bernier.

An average mortgage rate of 3% is possible by the end of 2024

If the banks start to lower their rates again, as they have been doing since January, it is because four months before the end of the year, “They did not meet all their commercial objectives”explains Maël Bernier.It is for them the final stretch to achieve their credit production targets” confirms Vousfinancer.

The broker is counting on a “continuation of these attractive borrowing conditions” thanks to the drop in the European Central Bank’s key rates which should occur on September 12This would in fact reduce the cost at which banks obtain financing from the ECB, encouraging them to lower their rates again. “If a first reduction of a quarter of a point (in ECB rates) is agreed in September, followed by another by the end of the year, mortgage rates could finally flirt with 3% by December.”anticipates the broker Cafpi.