The rates are falling, it is undeniable, so it is time to embark on your mortgage project and especially to buy back credit, whether to renegotiate the rate or to reduce your monthly payments. Here is our full point on November 2016 rates.
November 2016: rates are low
Like every month, the rates are updated in order to offer borrowers an overview of what they can collect as part of their financing project, whether it is mortgage or loan repurchase.
The housing credit observatory, which presents the average rate offered in mortgage loans, announces 1.41% over an average duration of 17.58 years and production increased by 3.1%. In detail, it is the rates dedicated to buying in the old that are better, with an average of 1.38% against 1.45% for the new. In repurchase of credit, we can hope to get a little better, up to 1.20% over a period of 20 years, enough to awaken the desires for renegotiation.
Low rate on loan buy-back: will it last?
Difficult to predict future developments but one thing is certain, banks and other credit institutions have set their rates for the end of the year and they will remain particularly low. 2017 will start again with new commercial policies and therefore new rates, both downward and upward, difficult to advance on a possible continuity of falling rates.
In terms of credit repurchase, banking products are much more suited to the needs of borrowers than at the start of the year, however, we must remain vigilant about insurance, which remains a profitable product. That is to say that the banks can very well offer in this month of November a rate of 1.20% over 20 years for behind offering insurance three times more expensive than in normal times, vigilance is required.
Simulate your credit buy-back in November
The month of November is favorable for the repurchase of credit because a request started now will give rise to a release of funds in December, which avoids having to wait for the new year, the file will be immediately taken in hand and will be investigated before the winter period time off.
The simulator makes it possible to know immediately if financing can take place, the repurchase can just as well relate to a single mortgage as several loans of different natures (consumption and real estate), it is free and without commitment.