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Additional Details
100 £ was just an example !
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Additional Details
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jerome c | Why loan rates are much higher in the US compare to france? |
When you buy a house
In the US, you have 7% for 15 years and 5,5% for 30 years
In france, you have 3,8% for 15 years and 4,1 for 20 years |
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John Corey
 |
The rates are largely set by the actions of the Fed vs. the ECB. Note that in the US mortgages tend to track the 10 year bond rates more than the overnight rate set by the Fed.
The Euro zone has had low rates since the Euro started to circulate. The rate of interest is mostly driven by the local economic activity in the member states. The US has had more growth and slightly higher inflation.
There is also a difference in the products as another person has noted. 30 year fixed being a benchmark mortgage in the US. France does not go out that far. There is slightly higher risk to a lender when the loan is long so the rate is generally higher. The US did have a 30 year treasury bond and it looked to be coming back. That is one reason for the 30 year mortgages.
You have to also factor in the historic house price trends. It is not completely about what you pay as much as how well the asset performs.
Finally you need to compare the terms. The size of the down payment, the credit approval process (including income multiples of monthly capacity), the degree to which a lender keeps a loan on their books vs. sells the loan on, and other conditions or qualifications.
So, there are many reasons for differences just as there are many differences when living in one or the other country. I happen to have mortgages (more than one) in more than one country (multiple countries with multiple mortgages in each).
Even within the EU there are different mortgage products per country. |
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Justin
 |
Well, actually, 30-year rates in the US are in the low sixes and high-fives on 15-year terms. However, we use different economic factors, or indices. A common European index is LIBOR, or the London Inter-Bank Offer Rate. This is currently at 5.25%. One of the major US indexes used is WSJ Prime, or the Wall Street Journal Prime Rate. Today it is at 8.25%, so it is basically showing how much better the market (economy) is in Europe. The US economy has taken quite a beating over the last two years, which has effected our rates tremendously. Two years ago, WSJ Prime was at 4.25%!!!!!!! |
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abel c
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Your question is one of complexity in which an answer will not justify it's differences. But your question simply answers with the notion of two different countries, spanning two different continents, with two different banking systems and multiple stock/future/options/island clone exchanges of course loan rates are much more different. If you compare Britain to Japan and USA you would also find quite a difference.
You already mentioned france goes by 15 and 20 years but not 30 like US. US even has 50year mortgage and balloon, etc. etc. This already proves their is serious difference of thinking, between the principles upon which their bank system is compared to US system.
That's all you need to know for now. You can make your own decision on why an apple is not the same as a pear. |
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mortgage help
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'cause they can't afford much |
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BEER
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Yes but you have to live in ******* France. |
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Heads up!
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Because the US is trillions of dollars in debt.France is not. |
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mel
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more greed in the U.S. |
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thebillthatknows
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cause the us has a sorry economy that's still in decline so its more of a risk to loan us money |
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ktray1275
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it the wine over there |
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Wisdom Troll
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France is turning muslim. Islam forbids charging interest. |
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ebraman26
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americans are more jewish |
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♥Super_Colts_Fan♥
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There are more people in the US that are untrustworthy than in France. The rates have to be higher to make up for their stealing. Like in bank robberies. |
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