It starts to move side mortgages. Interest rates granted to individuals by banks, historically low for months, could start a slight recovery, believe brokers
If competitive lending rates were 1.33% on average in October, according to the Crédit Logement / CSA observatory, “the average rate at the beginning of November is on the rise”, Cafpi says A note issued Wednesday. “The banks said, in November they will raise their rates,” continues the broker.
The 10-year borrowing rate of France (OAT), which serves as a reference for fixed-rate borrowings of individuals, is indeed “frankly rising”, he said. It went from 0.34% at the beginning of the month to 0.83% in the aftermath of the election of Donald Trump to the American presidency, which raises fears “an inflationary increase” in the United States, according to Philippe Taboret, Assistant to Cafpi
“A gradual and limited increase”
However, this increase will be “progressive and limited, due to the banks’ strategies for 2017,” says Empruntis.
Source: extract article Le Parisien November 2016