Mortgage rates rose again in the third quarter

This reversal of trend, while rates had been trending downwards since the peaks of the first quarter of 2024, is for the moment measured: the average rate for the second quarter was just below, at 3,81%.

This is partly explained by the commercial policies of banks, which protect their margins, and the surges in the cost of French sovereign debt.

Banks are in fact dependent on their country's borrowing rate, since they borrow on the markets, under similar conditions, part of the money that they then lend to individuals and businesses.

But at the beginning of September, a few days before the announced fall of François Bayrou and the downgrade of the country's rating by the Fitch agency, the cost of French debt reached historically high levels.

The 3,82% rate includes all fees. It represents approximately €43.000 in interest for every €100.000 borrowed over 20 years.

Mortgage brokers have been echoing the news since the start of the year about rate hikes decided by the banking establishments with which they work.

The effective rate charged by credit institutions and finance companies is made public every quarter and serves as the basis for calculating the usury rate, a maximum rate applied to real estate loans to limit over-indebtedness.

Illustrative image of the article via Depositphotos.com.