IN&FI credits, a network of brokers, has produced a barometer on real estate loans for the second quarter of 2024. The real estate loan market in the second quarter of 2024 continues its rise, influenced by economic fluctuations and changing monetary policies. Interest rates, always crucial in borrowing decisions, have helped revive the real estate market and attract buyers again.
Market status
Second quarter of 2024:
Credit applications continue to improve with applications up +30% compared to the end of 2023. This remains in line with the recovery trend for the first quarter of 2024.
The number of applications sent to banks is accelerating with an increase of 14% compared to the last three months. As for the credits obtained, they are jumping by +26%.
The recovery is confirmed and demand is gaining momentum.
On the rate front, the decline continued with a reduction of -0,25% on average over all durations between Q1 and Q2.
Concerning banking establishments, their desire to distribute real estate loans is even more marked at the end of this quarter, with some establishments being far from having fulfilled their objectives.
Rate Updates for Q2024 XNUMX
The best rates obtained in Q2 2024
- 15 years => 2,78%
- 20 years => 2,95%
- 25 years => 3,75%
Key data
Loan type:
- Average amount: €181.842
- Average duration: 22 years and 6 months
- Average contribution: €72.123 (i.e. 22,2% contribution)
Typical borrower profile:
- Average age: 37 years
- Distribution M/F: 51.3% men - 48.7% women
- Distribution of M/F single borrowers: 54% men - 46% women
Annual household income: €56.486
Illustrative image of the article via Depositphotos.com.
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