Loans to individuals, France - 2025-08
Published on the 6th of October 2025
statistics
Production of housing loans confirms its recovery while their average rate stabilizes at just over 3%
- The seasonally adjusted monthly production of housing loans (excluding renegotiations) reached €12.2 billion in August, in a market where first-time buyers continue to account for more than half of new loans.
- The average interest rate on new housing loans for transactions excluding renegotiations remained stable in August at 3.10% (after 3.09% in July and 3.10% in June).
- Growth in consumer loans remained strong in August, with outstanding loans up 3.6% year-on-year.
Production of new housing loans ![]()
(Monthly seasonally adjusted new loans in € Bn)
Interest rates on housing loans, all maturities![]()
(Narrowly defined effective rate, average weighted by long and short term flows, in %)
Production of new loans (excluding overdrafts, monthly flows seasonally adjusted (a))![]()
(volumes in €bn)
| Jun-25 | Jul-25 (r) | Aug-25 (p) | |
| -housing loans | 14.8 | 14.9 | 13.9 |
| of which housing loans excluding renegotiations | 12.9 | 13.1 | 12.2 |
| -proportion of renegotiation (not seasonally adjusted) in % (c) | 12.9 | 12.3 | 12.8 |
| -loans for consumption purposes (b) | 5.1 | 5.8 | 5.4 |
Interest rates on new loans (narrow defined effective rate, monthly average)![]()
(in percentage)
| Jun-25 | Jul-25 (r) | Aug-25 (p) | |
| -housing loans | 3.01 | 3.01 | 3.02 |
| of which housing loans long term and fixed rates | 2.99 | 2.98 | 3.00 |
| of which housing loans short term or floating rates | 3.69 | 3.69 | 3.73 |
| of which housing loans excluding renegotiations | 3.10 | 3.09 | 3.10 |
| -loans for consumption purposes (b) | 6.23 | 6.04 | 6.06 |
| -overdrafts for individuals (d) | 7.42 | 7.37 | 7.68 |
(a) Parameters for seasonal adjustment are updated each month, taking into account monthly data under review; (b) Excluding revolving loans. Loans for splitted-cost payments (mainly "loans granted on market place" and "extended credit-card credits" are included into consumption loans; (c) Ratio of renegotiated loans on housing loans, both not seasonally adjusted (d) Overdrafts: negative balance of ordinary accounts + commercial credits + factoring + cash credits without fixed repayment schedule (including mobilization of revolving loans). (r) Revised data; (p) Provisional data
Renegotiated loans are loans where at least one of the terms of the initial contract is modified with the active participation of the borrower, giving rise to the declaration of a new contract. They include in particular loans for which the insurance contract has been modified (since February 2022 the Lemoine law authorizes the termination at any time of the borrower's insurance contracts, without any notice period or fees or penalties) even if the other characteristics of the loan remain unchanged.
Renegotiated loans are loans where at least one of the terms of the initial contract is modified with the active participation of the borrower, giving rise to the declaration of a new contract. They include in particular loans for which the insurance contract has been modified (since February 2022 the Lemoine law authorizes the termination at any time of the borrower's insurance contracts, without any notice period or fees or penalties) even if the other characteristics of the loan remain unchanged.
Outstanding amounts and annual growth rates (without seasonal adjustment) ![]()
(Outstanding amounts in €Bn, annual growth rate in %)
| End-of-month level | Annual growth rate | |||||
| Jun-25 | Jul-25 (r) | Aug-25 (p) | Jun-25 | Jul-25 (r) | Aug-25 (p) | |
| Total | 1,532 | 1,537 | 1,535 | 0.9 | 1.0 | 1.0 |
| Lending for house purchase | 1,283 | 1,287 | 1,285 | 0.1 | 0.2 | 0.2 |
| Credit for consumption | 215 | 217 | 216 | 3.9 | 3.7 | 3.6 |
| Other lending | 33 | 33 | 33 | 15.8 | 16.2 | 15.9 |
(r) Revised data; (p) Provisional data
Net flows of housing loans to individuals (seasonally adjusted) ![]()
(In €bn)
Net flows of credit for consumption (seasonally adjusted) ![]()
(In €bn)
Euro area : Annual growth rate of outstanding housing loans to households (in %) (1) ![]()
Euro area : Interest rates for new housing loans (excluding renegotiations , in %) ![]()
(1) Households = Individuals + sole entrepreneurs + non-profit institutions serving households. The annual growth rate of outstanding housing loans to households in France is 0.4% in August 2025 and 0.2% for individuals alone. The interest rate on new housing loans (excluding renegotiations) is 3.10% in August 2025 for both households and individuals.
Euro area: New housing loans (excluding renegotiations) to households, cumulative in €Bn
Additional information on access to real estate credit for first-time buyers
Analysis of the data shows that:
- First-time buyers accounted for 52% of new loans granted for the purchase of a principal residence in August.
- The average term of new housing loans for the purchase of a principal residence was 23 years and 2 months for all borrowers, and 23 years and 8 months for first-time buyers.
The Banque de France collects additional information from a sample of 12 resident banks representing 90% of total outstanding loans, which allows it to break down housing loans according to their characteristics and those of the borrowers (loan amount, number of loans, average term, first-time buyer or not, etc.).
- First-time buyers accounted for 52% of new loans granted for the purchase of a principal residence in August.
- The average term of new housing loans for the purchase of a principal residence was 23 years and 2 months for all borrowers, and 23 years and 8 months for first-time buyers.
The Banque de France collects additional information from a sample of 12 resident banks representing 90% of total outstanding loans, which allows it to break down housing loans according to their characteristics and those of the borrowers (loan amount, number of loans, average term, first-time buyer or not, etc.).
Share of first-time buyers in the production of housing loans for the acquisition of a principal residence![]()
(in %)
Average maturity of housing loans for the purchase of a principal residence ![]()
(in years)
Additional information
- Individuals' is a subset of the 'households' sector, which also includes sole proprietors and non-profit institutions serving households.
- Growth rates are calculated on the basis of changes in outstanding loans (including securitization transactions), adjusting for effects not resulting from economic transactions with customers, in particular write-offs of bad debts (for technical reasons, the effects of exchange rate variations are not adjusted).
- New loan production represents new loans granted, even when they have not yet actually been disbursed to the borrower, in accordance with the ECB's harmonized method; new loan production therefore differs from monthly changes in outstanding loans (outstanding loans recorded after actual disbursement of funds and less amortization of old loans).
- In accordance with the ECB's harmonized definitions, the rates recorded are the narrowly defined effective rate (NDER), corresponding to the interest component of the Annual Percentage Rate of Charge (APRC).
- Growth rates are calculated on the basis of changes in outstanding loans (including securitization transactions), adjusting for effects not resulting from economic transactions with customers, in particular write-offs of bad debts (for technical reasons, the effects of exchange rate variations are not adjusted).
- New loan production represents new loans granted, even when they have not yet actually been disbursed to the borrower, in accordance with the ECB's harmonized method; new loan production therefore differs from monthly changes in outstanding loans (outstanding loans recorded after actual disbursement of funds and less amortization of old loans).
- In accordance with the ECB's harmonized definitions, the rates recorded are the narrowly defined effective rate (NDER), corresponding to the interest component of the Annual Percentage Rate of Charge (APRC).
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Updated on the 6th of October 2025