Mortgage interest rates in France are now so low that buyers can get a fixed 20 year repayment mortgage at an incredible 3.10%, down from 3.75% a year ago.
The rate drop means a saving of €29,044 on interest payments over the full term of an average mortgage of €400,000 or €7,261 per €100,000 borrowed compared to a year ago.
These record low interest rates, the lowest French mortgage rates seen for more than a century, have mainly been driven by the very weak long term government bond yields across Europe which is a challenge for the EU governments. But in the meantime, it is a golden opportunity for anyone planning to buy French real estate.
Figures from the French Notaires show that transactions are up on last year and these new, lower interest rates will certainly push more buyers to take closer look at properties in France.