Mortgage rates keep on decreasing in France and brokers say that it reminds them the situation of October 2010 where rates hit record lows.
Some brokers in France have succeeded in finding the occasional unexpected fixed rate of 2.95% over 20 years for their French clients. Less than 3% for a repayment French mortgage over 20 years is a dream for many applicants. But the dream remains inaccessible to the vast majority of them even in this period particularly favourable. In fact, the lowest rates are only accessible for the best applicants that have a good financial health and are living in France. In fact it is hard to see rates being able to go any lower.
The average rate for a French mortgage over 20 years now stands at 3.80% (a decrease of 0.05% compared to the previous month). The decline appears even slightly more pronounced for mortgages over 15 years with an average rate fell by 0.10% to stand at 3.35%. International buyers can also access these rates for mortgages in France for their French property with a 20 year fixed rate from 3.60%.
Being able to fix your interest rate under 4% for 20 years holds exceptional value. Once you take away the target inflation rate of 2%, you can see that you are only paying about 1.6% to borrow your money. This is why many people are looking again at the great leaseback deals available in the French Alps this ski season as you can combine an ultra-low fixed rate mortgage with a property that has a guaranteed income stream.
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