In short
In August 2026, the average rate on new home loans (excluding renegotiations) is 3.32%, 24 basis points higher than in January (Banque de France, published 6 October 2026). This rate is excluding fees and insurance. The taux d’usure (usury rate cap), i.e. the maximum APR allowed, is 5.40% for a fixed-rate loan of 20 years or more, from 1 October to 31 December 2026.
Three rates, three uses
| Rate | What it measures | Published by | Frequency |
|---|---|---|---|
| Average rate on new loans | interest rate only (“narrowly defined effective rate”), average weighted by amount | Banque de France | monthly |
| Average effective rate (TEM, taux effectif moyen) | average total cost, fees and insurance included, by loan category | Banque de France | quarterly |
| Usury rate cap | legal ceiling on a loan’s APR | Banque de France, notice in the Journal officiel (official gazette) | quarterly |
| TAEG (taux annuel effectif global, annual percentage rate) | total cost of your loan, as an annual rate | your bank, in the loan offer | with each offer |
The most common mistake is to compare an offer’s nominal rate (3.2%, for example) with the usury rate cap. You must compare the offer’s TAEG with the usury threshold for its category.
The Banque de France average rate
Each month, the Banque de France publishes the rate on new home loans to individuals. The latest figures (publication “Crédits aux particuliers, 2026-08”):
| Rate on new loans, % | August 2025 | June 2026 | July 2026 | August 2026 (provisional) |
|---|---|---|---|---|
| Home loans (renegotiations included) | 3.02 | 3.17 | 3.18 | 3.21 |
| of which excluding renegotiations | 3.10 | 3.27 | 3.30 | 3.32 |
| of which fixed rate | 2.98 | 3.13 | 3.15 | 3.17 |
| of which bridging loans | 3.59 | 3.70 | 3.76 | 3.79 |
In August 2026, 99.5% of home loans are fixed-rate. Lending excluding renegotiations reaches €12.2bn (seasonally adjusted data). These rates are averages across all terms: they are not rate schedules.
The usury rate cap: method and values at 1 October 2026
Legal definition. A loan is usurious if its TAEG exceeds by more than one third the average effective rate charged in the previous quarter for loans of the same kind (code de la consommation (Consumer Code), art. L. 314-6, cited by the Banque de France). Loan categories are set by an arrêté (ministerial order) of 24 August 2006, amended on 29 June 2022, which split fixed-rate loans into three term bands.
Usury rate cap = previous quarter’s TEM × 4/3
Values applicable from 1 October 2026 (Banque de France, published 28 September 2026):
| Home loans to individuals | TEM, Q3 2026 | Usury rate cap at 1 October 2026 |
|---|---|---|
| Fixed rate, under 10 years | 3.07% | 4.09% |
| Fixed rate, 10 to under 20 years | 3.51% | 4.68% |
| Fixed rate, 20 years and over | 4.05% | 5.40% |
| Variable rate | 4.14% | 5.52% |
| Bridging loans | 4.87% | 6.49% |
Check: 4.05 × 4/3 = 5.40 and 3.51 × 4/3 = 4.68. The rule is reflected exactly in the published figures.
The TAEG: what it includes
The TAEG adds to the interest all the costs the borrower bears and the lender knows of at the date of the offer, where the loan is conditional on them (Consumer Code, art. L. 314-1). Article R. 314-4 lists them, as restated by the Banque de France:
- arrangement fees;
- intermediary fees, including the broker;
- the costs of compulsory insurance and guarantees;
- mandatory account opening and maintenance fees;
- the cost of valuing the property, excluding registration fees.
This is why an offer’s TAEG is always higher than its nominal rate, and it alone is compared with the usury threshold. The HCSF (France’s macroprudential authority) also includes insurance in the costs counted towards the 35% debt-to-income ratio (FAQ, question 12).
Webstat series to follow
| Series (SDMX code) | Content | Frequency |
|---|---|---|
MIR1.M.FR.B.A22HR.A.R.A.2254U6.EUR.N | Rate on new home loans excluding renegotiations (3.32% in August 2026) | monthly, since January 2003 |
MIR1.M.FR.B.A22FRF.A.R.A.2254U6.EUR.N | New fixed-rate home loans, interest rate | monthly |
MIR1.Q.FR.R.A22FRF.W3.U.A.2254FR.EUR.N | Usury threshold, fixed rate 20 years and over (5.40% in Q4 2026) | quarterly |
MIR1.Q.FR.R.A22FRF.W2.R.A.2254FR.EUR.N | TEM over the previous 3 months, fixed rate 10 to under 20 years | quarterly |
MIR1.M.FR.R.A22FRF.W3.R.A.2254FR.EUR.N | TEM over the previous 3 months, fixed rate 20 years and over | monthly |
MIR1.M.FR.R.A22RP.A.D.A.2254P.EUR.N | Average loan term for first-time buyers (main residence) | monthly |
Series page: https://webstat.banque-france.fr/fr/catalogue/mir1/<code>. Selections published by the Banque de France: https://webstat.banque-france.fr/fr/publication/pret_immo_usure and .../pret_immo_effectif.
FAQ
What is the average mortgage rate in October 2026?
The latest official figure is for August 2026: 3.32% excluding renegotiations, excluding fees and insurance (Banque de France, 6 October 2026). A month’s figure comes out about five weeks later: August’s was published on 6 October.
What is the current usury rate cap?
From 1 October to 31 December 2026, it is 5.40% for a fixed-rate loan of 20 years or more, 4.68% between 10 and 20 years and 4.09% under 10 years.
How is the usury rate cap calculated?
It is the previous quarter’s average effective rate for the same loan category, increased by one third (art. L. 314-6 of the Consumer Code).
Can a bank turn me down because of the usury cap?
Yes. If the offer’s TAEG, insurance included, exceeds the threshold, the loan cannot be granted as it stands. Cheaper insurance or lower fees can bring it back below the threshold.
Nominal rate or TAEG: which should I compare between two offers?
The TAEG, for the same term. It is the only one that includes fees, insurance and compulsory guarantees.
Find a professional
One professional per trade and per area, selected and scored out of 100 from public data, with a verifiable title. The trade, its official register and the professionals selected (pages in French):
The mortgage broker selected in the largest cities
| City | Professional | Area | Score /100 | Status |
|---|---|---|---|---|
| Paris | Credixia | Paris, 14e arrondissement | 89 | Selected |
| Marseille | Provence Crédit | Marseille, 4e arrondissement | 81 | Selected |
| Nice | Credixpert | Nice | 80 | Selected |
| Lyon | Lyonnaise de Courtage et de Financement | Lyon, 2e arrondissement | 81 | Selected |
| Nantes | Fidelo Crédits | Nantes | 78 | Selected |
| Bordeaux | AR Finances Conseils | Bordeaux | 80 | Selected |
| Lille | Meilleurtaux | Lille | 70 | Selected |
| Rennes | Artemis Courtage | Rennes | 79 | Selected |
| Toulon | Var Courtage | Toulon | 70 | Selected |
| Saint-Étienne | LP Finances | Saint-Étienne | 71 | Selected |
The 10 cities with the most sales (DVF 2025) where a mortgage broker is selected; in a city with several areas, the best-scoring profile. "Verified": title read at the register by Payotte; "Selected": title declared, verifiable on the profile.
Related guides
Sources
- Banque de France — Crédits aux particuliers, 2026-08 (mise en ligne le 6 octobre 2026) (checked 11 October 2026)
- Banque de France — Taux d'usure 2026-Q4 (mise en ligne le 28 septembre 2026) (checked 11 October 2026)
- Webstat — Taux des crédits nouveaux à l'habitat (hors renégociations) aux particuliers, MIR1.M.FR.B.A22HR.A.R.A.2254U6.EUR.N (checked 11 October 2026)
- Webstat — Seuil de l'usure des prêts immobiliers à taux fixe aux particuliers, 20 ans et plus, MIR1.Q.FR.R.A22FRF.W3.U.A.2254FR.EUR.N (checked 11 October 2026)
- HCSF — FAQ sur la décision D-HCSF-2021-7 (question 12 : assurance et TAEG) (checked 11 October 2026)
- Code de la consommation, article R314-3 (calcul du TAEG) – en vigueur depuis le 1er octobre 2016 (Légifrance) (checked 11 October 2026)
- Code de la consommation, annexe à l'article R314-3 (équation de base du TAEG) – version en vigueur depuis le 20 décembre 2021 (Légifrance) (checked 11 October 2026)
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