Increase in credit rates in December 2016

According to the first scales of mortgage brokers, interest rates go back for this month of December 2016. This increase remains however for the moment little pronounced.

Rates still attractive despite a recent rise

Rates still attractive despite a recent rise

According to mortgage brokers, the rates of their banking partners have increased in a single month from 0.15 to 0.20%. This rise in interest rates concerns all loan durations as all borrower profiles. It is, however, and of course true that the increase is less marked for the strongest files.

Over a period of 20 years, the rate of a “good record” passes for example from 1.55% in November to 1.75% in December, an increase of 0.2%. An “excellent record” can currently be granted a rate of 1.25% against 1.10% last November, an increase of 0.15%.

This rise in rates is not necessarily general and is rather light. According to the broker Meilleurtaux.com, the increase would be on average of 0.1%, the average rates being then between 1.65 and 1.70% over 20 years. The levels are still low. Also, some banks continue to offer certain profiles lower rates.

Negotiate your loan insurance as your credit to reduce your fees

Negotiate your loan insurance as your credit to reduce your fees

Most borrowers focus their attention on the mortgage rate they will buy. And that’s a mistake! Why ? Well, it is possible for many borrower profiles to reduce the overall cost of their mortgage by taking the time to choose their mortgage insurance. Indeed, if it is proposed to you systematically by the bank, you have the possibility to subscribe it outside the lending institution, from the insurer of your choice. This is called insurance delegation.

Good to know: with the law Nasnip 2, it will soon be possible to cancel your insurance contract each year, on the anniversary date of signature, to replace it with a more advantageous.