The idea of an adjustment in the supply of mortgage loans by banking institutions is gaining ground every time and, given this scenario, developers rule out a greater impact that affects a brake on the placement of this type of financing.

According to the National Chamber of the Housing Development and Promotion Industry (Canadevi), which concentrates just over 1,000 financial developers throughout the country, an adjustment in interest rates on mortgage loans is expected during 2021 were at minimum levels of up to one digit.

This situation does not discourage the dynamism that this type of financing has had since the pandemic that arrived in Mexico since 2020, mainly based on the policy that the Bank of Mexico has adopted in the face of a rise in inflation.

On February 10, the central bank decided to increase the interbank interest rate by 50 basis points to place it at 6%, due to inflationary pressures and recently in the announcement another increase that places it at 6.5%.

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In this context, the banks will have to adjust the offer of the financing they grant, for which an adjustment is expected in the rates of mortgage loans, which during 2021 remained at historical minimum levels.

According to Canadevi, for this year mortgage credit is expected to continue in a positive trend, as there could be an increase in the number of financings placed.

Sector analysts estimate that the financing of bank mortgage loans will increase between 12% and 14%, which could represent a placement of 139 thousand housing loans.

Based on numbers presented by the National Banking and Securities Commission (CNBV), during 2021, 121,903 housing loans were placed, that is, a growth of 21% compared to what originated in 2020.

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Canadevi explained that, in recent months, the bank has gradually gained ground in terms of mortgage credit, compared to other players such as the Institute of the National Workers' Housing Fund (Infonavit), which is the largest originator of mortgages in the country.

According to the behavior of mortgage credit during 2021, Infonavit had a 67.8% share in the placement of financing, while banks 22.7% and the Issste Housing Fund 9.5%.

For Canadevi, one of the favored segments of the dynamism of mortgage credit offered by banks is that of residential housing, that is, one that has a value between 1.9 million pesos and 3.9 million pesos.

"The segment that has fostered the recovery of bank mortgage activity is residential," the chamber detailed.

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