Real estate prices: further increases in August


Real estate prices for the month of August
Real estate prices: further increases in August

Borrowing rates recorded on 07/18/2022

The adjusted barometer is similar to the temperatures at the beginning of August: still rising! In fact, our partners have provided us with scales that offer increments ranging from 0.10% to 0.35%. So our update of the national averages reflects this bullish context.

What is the mortgage rate in August?

August real estate prices are following the upward trend that started a few months ago. This month, there is no recession compared to July, nor a drop in property prices either.

Whether it was market mortgage rates (known as average rates) or the minimum rates reserved for premium files, the same trend was observed: +0.10% to 0.35% depending on the term of the loan.

Note that prices are still attractive. And therefore , For a mortgage over 20 years, which is the most requested term, the median rate is 1.85% And the best rate during this period is 1.40%.

In detail, this is what we observe …

August real estate prices: all the numbers

Like we said, there is no decrease and no rate that remains identical to the previous month either. As far as market prices are concerned, the largest increases are observed at shorter maturities. For example, we observe +0.35% over 7 years.

Besides the best rates, increases are more general of +0.30% over 20 years, +0.27% over 25 years, or even +0.35% over 10 years.









National real estate prices in August 2022

Period

Average property price

Best real estate price

7 years

1.50% (+0.35%)

0.75% (+0.10%)

10 years

1.60% (+0.30%)

1% (+0.35%)

15 years

1.70% (+0.20%)

1.15% (+0.25%)

20 years

1.85% (+0.15%)

1.40% (+0.30%)

25 years

2% (+ 0.10%).

1.57% (+0.27%)

Why do real estate prices rise in August?

As we said in mid-July, on the one hand, banks are increasing their rates in an attempt to offset the cost of money for them. But let’s not forget that it is still constrained by erosion rates that have not yet increased sufficiently. They can be selective in such a context, although they are still keen to fund projects.

On the other hand, we are already in August, and therefore, in the middle of the summer vacation period. Traditionally, banking institutions raise their balances during this period In order to avoid the flow of files with low staff to respond to them.

In this context, it is advisable, for those who have a real estate project, that Prepare a strong argument (Personal contribution, fixed and sustainable income, low debt ratio, etc.). They can also intermediary call Who will look for them in the best conditions and the best possible price according to their project and profile.

Benefit from our expertise at the best price!

starting from 1.15% over 15 years old(1)

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