French mortgage rates are still rising. Loans granted in October 2026 averaged 3.49% across all terms, up from 3.40% in September, and broker barometers for November put a 20-year fixed rate at about 3.70–3.82% for a standard French resident profile. Non-resident files usually price above those averages. The legal cap for loans of 20 years and more is 5.40% all-in until 31 December 2026.
Average rates on loans actually granted
The Observatoire Crédit Logement/CSA publishes the rates on loans that banks have actually signed, a month after the fact. It is the figure most widely quoted in the French press.
| Month | All terms | 20 years |
|---|---|---|
| December 2025 | 3.16% | – |
| June 2026 | 3.26% | – |
| August 2026 | 3.31% | – |
| September 2026 | 3.40% | 3.39% |
| October 2026 | 3.49% | 3.54% |
Source: Observatoire Crédit Logement/CSA, October figures published in early November 2026 and reported by MySweetImmo and Batiweb. Rates exclude insurance and fees. The average loan term was 253 months in October. The Banque de France, which measures differently, put the average rate on new housing loans at 3.32% in September.
What brokers are quoting in November
Broker barometers show the rates being offered this month after negotiation, which is why they run ahead of the granted-loan averages when rates are moving up.
| Barometer | 15 years | 20 years | 25 years |
|---|---|---|---|
| Meilleurtaux, 2 November | 3.50% | 3.70% | 3.80% |
| Pretto, 9 November | 3.55% | 3.73% | 3.76% |
| Empruntis, 3 November | 3.73% | 3.82% | 3.90% |
Fixed rates for French resident borrowers, excluding insurance. Each broker describes a slightly different profile, so read the trend rather than compare the figures line by line. Meilleurtaux reports banks negotiating less in November.
The legal cap: taux d'usure for Q4 2026
No French lender may grant a loan whose all-in rate (the TAEG, which includes interest, borrower insurance, guarantee and fees) exceeds the usury threshold for its category. The Banque de France resets the thresholds every quarter. The next ones apply from 1 January 2027.
| Fixed-rate property loans | 1 Jul – 30 Sep 2026 | 1 Oct – 31 Dec 2026 |
|---|---|---|
| Under 10 years | 4.07% | 4.09% |
| 10 to under 20 years | 4.57% | 4.68% |
| 20 years and over | 5.29% | 5.40% |
| Variable-rate loans | 5.28% | 5.52% |
| Bridging loans | – | 6.49% |
The cap matters most to older borrowers, whose insurance costs more, and to small loans where fixed fees weigh heavily. When market rates rise faster than the quarterly caps, a file with expensive insurance can hit the cap even at an ordinary interest rate.
Why rates are moving
- The European Central Bank raised its three key rates by 0.25 point on 10 September 2026, then left them unchanged on 29 October: 2.50% on the deposit facility, 2.65% on main refinancing operations. Its next meeting is on 17 December.
- The French 10-year government bond yield, which banks use as a funding benchmark, touched 5.07% on 21 October and stood at about 4.8% on 10 November.
- The rules banks lend under have not changed in 2026: repayments within 35% of income and 25 years at most. Up to 20% of each bank's lending may go beyond them, but most of that margin is kept for main residences and first-time buyers.
What non-residents should expect
Barometers describe French residents with French payslips. A non-resident file is priced on more variables, so expect your rate to sit above the averages above and to vary more from one bank to another. The main drivers are:
- Financing level. A loan at 60% of the price is priced better than one at 80%.
- Income currency. Euro income is simplest. Sterling, dollar or franc income adds exchange risk the bank prices in.
- Relationship. Banks often sharpen the rate if you move savings or open accounts with them. A bank cannot simply impose having your salary paid in: it can only ask for it in exchange for a real advantage, and the offer must say so.
- Loan size. Private banks lending above roughly €1 million sometimes offer variable or interest-only (in fine) loans backed by assets you place with them.
- Insurance. Age and health change the insurance cost, which counts in the all-in rate and in the 35% debt ceiling.
A broker who places non-resident files regularly knows which lenders are active for your profile this quarter. That is usually worth more than a tenth of a point on the headline rate.
Questions about rates
Are French mortgage rates fixed?
Most French property loans are fixed for the whole term. Variable loans exist, usually with a cap on how far the rate can rise, and private banks offer interest-only loans for larger amounts.
Why would my rate be higher than the barometer?
Barometers cover French residents with standard profiles. Living abroad, earning in another currency, borrowing a high share of the price or being older all add to the rate or to the insurance cost.
How long is a French loan offer valid?
The bank must hold the terms of its written offer for at least 30 days. You can only accept it after a 10-day reflection period, starting the day after you receive it.
Updated 10 November 2026. Next update after the Crédit Logement/CSA release for November, in early December.