Real Estate: Is there still time to get reasonable credit?

Real Estate: Is there still time to get reasonable credit?

The paper says that many families took out mortgages in the second quarter of 2022. reverberation . “The French rushed to bank branches to complete their loans, well aware that interest rates would rise”Philip Heim, Chairman of the Board of Directors of La Banque Postale, explained to our colleagues. The banking institution could also have recorded a 21% increase in the production of new loans during this period, having already recorded a 5.5% increase in the first half.

A credit rush is clearly observable in a large part of French banks. This is despite the gradual rise in interest rates since the beginning of the year.

According to Banque de France data, the rate of new loans was 1.34% at the end of June, compared to 1.1% last January.

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All banks were affected by the increase in the number of loans

For example, the Crédit Mutuel Alliance Fédérale (CMAF, the main component of the Crédit Mutuel Group), has signed a six-month agreement “Historical”according to its boss, citing Nicholas Terry reverberationwith a 9.5% growth in its outstanding loans (the total and aggregate amount of loans taken by the borrower or co-borrower calculated at a given time) in the second half.

The same phenomenon within the Credit Agricole group, “As 39 regional funds saw housing loan stocks rise 5.9% to €372.8 billion.”, Report to our colleagues. or in LCL, where the superiority increased by 9.2%.

BNP Paribas and Société Générale would have recorded the weakest increases, at 5.9% and 4%, respectively.

“The next few months will be more difficult.”

Between the rise in rates, which should continue, and inflation, the situation tends to become more complex for families who want to get a mortgage at the end of 2022.

A scenario for which the BPCE Group is preparing anyway, according to the words of its Chairman, Laurent Mignon, to reverberation . “We will have to look carefully at economic growth, He explained during an interview as part of the presentation of semi-annual group results. At the moment, the slowdown is not significant yet, but we expect it due to inflation and the credit crunch caused by higher interest rates. The next few months will be more difficult. »

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