French mortgage rates to stay low

French mortgage rates are forecast to stay for some time, according to French Private Finance by Athena Mortgages.

The firm's report says that Mario Draghi's decision to lower the European Central Bank main rate to 0.15 per cent and charge banks who want them to hold money is "good news" for variable rate mortgage holders in France.

"For those looking to take out a variable rate mortgage it certainly seems like rates will be staying lower for a while," says the company. "The average bank margin is 2% over the 3 month euribor so effectively rates for 20 years are now 2.15% and pretty attractive."