Despite low rates, the cost of a mortgage remains high

DECRYPTION – If the period remains favorable for taking out a loan, many costs can increase the bill.

The months go by and look the same for the Housing Observatory / CSA. Once again, the July report highlights the continued descent of rates to unprecedented levels (1.05% for all durations). With each new record, many voices are raised to explain that “now or never to buy” Where “borrowing costs (almost) nothing“. Alas, the facts quickly tarnish this (too?) Beautiful reality: a loan is always expensive.

Because if the rates fall and with them a part of the charges, this is not necessarily the case of the many other costs which come down, sometimes largely, the cost of the operation. In addition, the continuous rise in real estate prices, which is faster than that of income, forces future owners to take on more and more debt over longer periods of time. Result, the cost of real estate operations, “remains at the highest levels observed so far: 4.8 years of income in July 2021, against

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