Outstanding loans and loans to individuals continue to grow, according to the latest publication of the Francia Bank. The institution even notes an acceleration, for both housing loans and consumer credit.
How much is the outstanding amount of housing loans granted to individuals? According to the BdF, the market is estimated at 903 billion euros in January 2017 (out of a total of 1,100 billion euros, including consumer credits). If the amount appears both considerable and abstract, it should be known that it is increasing with a growth rate that reaches:
+ 3.9% in November 2016;
+ 4.3% in December 2016;
+ 4.8% in January 2017.
At the same time, the production of new home loans amounts to 37.4 billion euros, against:
EUR 23.9 billion in August 2016;
EUR 24.6 billion in September 2016 ;
€ 24.9 billion in October 2016 ;
EUR 28.3 billion in November 2016 ;
33.4 billion euros in December 2016.
Note that the production of consumer credit tends to stabilize (5.1 billion euros in December and January).
As property rates are exceptionally low, the share of mortgage repurchases has increased to constitute more than 50% of the production of real estate loans in France. In January 2017, this type of operation accounted for 61.58% of production, against:
54.89% in December;
58.88% in November;
53.97% in October;
51.55% in September;
49.93% in August;
43.9% in July.
For the record, the repurchase of credit is to buy back its home loan by another bank. You benefit from the current rate conditions that may be more attractive than when you signed your original home loan.
Status quo. The average rate of loans to the fixed housing does not move (1.50%, as in December) after several months of decline. It should be remembered, however, that the BdF figures are for the month of January, and real estate rates turned upwards. A rise that should be put into perspective: the movement remains moderate and real estate rates still advantageous.
It is important to remember it. When negotiating or comparing home loans, do not focus solely on the interest rate. Borrower insurance is a major cost item that you should pay attention to. And to save money on your contributions while benefiting from the best guarantees, you must compare mortgage insurance other than those offered by your bank (we speak of delegation of insurance).