USURY RATE. On June 1, 2023, the Banque de France further increased the current usury rate. This is the fifth consecutive increase after those of February, March, April and May 2023. The government wishes to continue the monthly reassessment of the usury rate until the end of the year. As a result, your consumer credit and real estate loans will be more accessible but will cost more, due to the rise in interest rates.

Good news with harsh consequences for borrowers. As part of its "housing plan" designed to stem the crisis in the real estate sector, THE government intends to extend the monthly reassessment of the usury rate . This exceptional measure, which began on February 1, was initially due to end on July 1. Finally, the executive wishes to continue the monthly reassessment of the usury rate, at least until 2024. Indeed, for 5 months now, there Bank of France recalculates this rate every month , and no longer once a quarter as before. The last increase in the usury rate took place on June 1, 2023. For most credits and loans, the rate is now approaching 5% . This new increase came after those of February, March, April and May 2023. These repeated developments have the effect of objective of unblocking the credit market , undermined by inflation related to the war in Ukraine. As a result, banks are less reluctant to lend money, individuals can borrow more easily and real estate professionals are finding a more stable situation. In short: no more cascading loan refusals: THE banks are now allowed to raise their interest rates more quickly . This will, however, have the consequence of increase the cost of the loans . As a reminder, the usury rate corresponds to the maximum interest rate that credit institutions can practice when granting a loan. If it does not increase, neither will interest rates, which can block access to loans. The new usury rates, applied according to the different types of credit that can be contracted, have been published by the Bank of France and the government in the Official Journal.