France mortgage rates hold at 3.32% in September 2026
France's average rate on new housing loans excluding renegotiations held at 3.32% in September, while monthly lending volume slipped to 11.8 billion euros.
The facts
- Banque de France, in the Stat Info release it put online on 5 November 2026, reported that the average rate on new French housing loans excluding renegotiations was unchanged at 3.32% in September 2026, the same reading as in August.
- The all-in rate on new housing loans, which includes renegotiated loans, eased to 3.19% from 3.21% in August; a year earlier, in September 2025, it stood at 3.00%, while the rate excluding renegotiations was 3.09%.
- Monthly production of housing loans excluding renegotiations, seasonally adjusted, fell to 11.8 billion euros from 12.2 billion in August, a decline the release describes as slight and inside its recent fluctuation range. Total housing-loan production, renegotiations included, was 13.7 billion euros after 13.9 billion.
- The share of housing loans being renegotiated rose to 13.9% from 12.5% in August. The release prints this share next to the two production series without stating a link between them.
- Annual growth in outstanding housing loans was 0.8% for households and 0.2% for individuals alone. The release puts the stock of housing loans to individuals at 1,289 billion euros, the line that carries the 0.2%.
- The average initial term of a new loan for a main residence was 23 years and 4 months for all borrowers and 23 years and 10 months for first-time buyers, and 99.0% of new housing loans carried a fixed rate.
What it means for your money
- Financing cost stands still at 3.32%. That is the September rate excluding renegotiations, level with August.
- Glopra data put the French national average at 3,642 US dollars per square metre and rent at 16.23 dollars per square metre a month, a 5.35% gross yield on Glopra's own calculation. Glopra also records 27.5% tax on rental income in France and round-trip transaction costs of 9.1%. The 3.32% is a euro borrowing rate, measured on a different basis.
- If you already own in France, the rate that covers renegotiated loans is the all-in 3.19%, down from 3.21% in August. The release reports the renegotiated share of lending at 13.9% but gives no number of borrowers.
What to watch
- The September figures are provisional and August has already been revised, so both the 3.32% and the 11.8 billion euros can move.
- The 11.8 billion euros excludes renegotiations and the 13.7 billion includes them. They are different series, and the difference between them is renegotiated lending rather than new borrowing.
- Banque de France publishes no count of new housing loans in this release, only the statement that loan numbers, housing sales and first-time-buyer lending have been stable since the spring of 2026.
Sources: Banque de France https://www.banque-france.fr/fr/statistiques/credit/credits-aux-particuliers-2026-09