Mexico's inflation
subsiding to just 3.7% and a more stable banking environment will allow the
country's largest mortgage provider to offer fixed-rate loans for the first
time in June. The state-controlled Infonavit will offer 30-year mortgages to
homeowners and plans to issue mortgage-backed securities (MBS) in pesos next
year.
Mexico enjoys the second
lowest inflation rate in Latin American and real interest rates, the benchmark
lending rate minus inflation, is just 0.77% compared to 3.76% in Brazil.
Bloomberg reports that
the lender has made
about 4.4 million loans since 2001 and estimates a national housing
shortage affecting more than 8.9 million families.
The current government,
as well as leading candidates in this year's presidential race, all support
policies to increase the country's supply of housing. Banks are looking to
housing as a growth opportunity, with outstanding housing loans increasing 16%
in January over the last twelve months
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