Slight increase in real estate loans in September confirming the recovery of the sector according to the Banque de France

The production of housing loans excluding renegotiations amounts to 9,6 billion, compared to 9,3 billion in August (+3,2% over one month) and 9,1 billion in September 2023 (+5,5% over one year).

The Banque de France still sees in these volumes "a clear recovery trend" since the spring trough.

The average interest rate on these new loans appears to be reaching a plateau, at 3,56% in September compared to 3,59% in August.

These rates are exclusive of fees and insurance. Including all fees, the rates reached 4,39% for a term of twenty years or more in the third quarter, according to the Banque de France.

This high level reached in just a few quarters represented a real shock for households' real estate purchasing power. In the first quarter of 2022, it was two and a half times lower, at 1,80%.

The mortgage market is struggling to get going again because buyers, stuck between still high rates and prices that are not falling or are falling only slightly, are becoming rare.

"Contacts from buyers have increased since July, but these buyers are cautious" in the face of market conditions that have not yet stabilised, Orpi president Guillaume Martinaud explained to AFP last month.

"So they wait before buying," he concluded.

Illustrative image of the article via Depositphotos.com.