French mortgage market looks attractive to buyers in 2013. It is planned that extremely low rates will be extended. Furthermore, French banks are still interested in lending to foreign residents. According to the French Private Finance, the mortgage market inFranceis rising, so it’s good time to buy real estate in the country.
Mortgages inFrancereached a historic low - a loan of up to 80% of the purchase price and the interest rate from 2.4% for 25 years. Despite the availability of loans in the third quarter of 2012 recorded drop of 24.3% in housing loans compared to the same period in 2011.
In December 2012 49% of French banks reduced their fixed rates, while 51% have left them on the same level. The average rate mortgage also fell slightly to 3.55% for 20 years against 3.58% in November and 4.31% in January. The banks have tightened their requirements for applicants.