Five months after the end of 2020, the mortgage market continues to paint with good dynamism, during the first three months it grew 10% in the number of loans and 26% in the amount of loans placed, compared to the first quarter of the year last, informed Pablo Sadek González, Director of BBVA Mortgage Banking Business Development, in an interview with #EnConcretoContigo.

The outlook for BBVA is encouraging, since during the first five months of the year, it has placed 45% more loans compared to last year, so they expect this year to close with numbers above 2019.

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"Against 2019 we were 6% below in 2020, no, it was not bad for us and this quarter is going better than that, I think we will overcome 2019, without a doubt this year will be very good for the mortgage market" mentioned Pablo Sadek .

With a placement of 3,200 monthly loans and 59 billion pesos annually for mortgage loans, BBVA has an average loan of 1.6 million, which it expects to continue growing due to the fact that residential housing is in an accelerated recovery, said Sadek González .

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According to the interviewee, the acquisition of a home continues to be one of the most demanded loans, mainly for the middle-income and residential plus markets, followed by loans for remodeling, liquidity and land purchase. However, liquidity credit is expected to regain strength as acquisition opportunities open.

"The acquisition continues with higher demand, coming from a streak of low rates and loan portability, at BBVA we have grown 400% in the payment of liabilities," said Sadek.

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