DECRYPTION – More and more households are being refused loans because of rising interest rates and wear and tear. Prices are falling.
It is a blow for thousands of French people who have a housing purchase project. Access to borrowing is increasingly difficult. The credit machine, which was running at full speed in the wake of a euphoric year 2021 (1.2 million housing sales, unheard of), suddenly seized up. In July, nearly 22 billion euros in home loans were granted, according to an estimate by the Banque de France. This is 5 billion euros less than in May.
Several factors are behind this tightening: effect of the usury rate, rise in interest rates, bank policy. They have a massive effect: nearly one in two loan files (45%) would today fall by the wayside, according to a recent Opinion System survey, commissioned by brokerage professionals. Households with tight budgets are no longer the only ones to see their request for financing rejected by the banks. The 30-55 year olds, usually the most pampered clientele, are the most affected by this phenomenon
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