He Central Bank (BCRA) forced the banking entities that offer Mortgage credits In pesos to buy homes and that allow those funds to be applied to payment with foreign currency Through the famous MEP dollar to inform the commission they charge for the operation.
Through communication “A” 8183the BCRA established that “Financial entities that offer mortgage loans in pesos for the purchase of housing and allow those funds to be applied to the payment of real estate through an operation of sale of securities with liquidation in foreign currency (MEP dollar), They must inform requesting users and in all advertising that they carry out on such credits, the total cost of the operation of titles”
What the BCRA is that banks must transparent the commission they charge in the operation to transform the weights into MEP dollar. So far, credits learned about the percentage of the commission the same day that the loan was granted. In this way, more transparency and predictability are given to the client and he will be able to choose the best option.
It should be noted that the possibility of Buy bonds with pesos and access MEP dollars immediately In June, When the demand for Mortgage credits UVA increased, but the obligation to wait for at least 24 hours to access dollars (“Parking”) was still in force. This implied that, on writing day, the property buyer could not immediately access the foreign currency to make the payment.
The real estate sector is energized by the hand of mortgage loans
Mortgage credit energized the real estate sectorso that, in 2024, he closed his best December in seven years in the sale of properties in the city of Buenos Aires. The Scriptures grew a 68.1% interannual a 7,667 records, The Porteño Notary College.
Only in December, some 1,130 properties were written with mortgage in the city of Buenos Aires, which speaks of a rise in the 874.14% Regarding the same month of 2023, when the credit offer was still exceptional, and 226% in the accumulated of 2024.
According to the measurement of the consultant Empiriaduring the last year they were granted U $ S830 million in Mortgage credits UVAof which U $ 240 million They were delivered in December, maximum since May 2018, when $ 445 million were borrowed.
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After the strong rise in the demand for mortgage loans, banking entities increased the Annual Nominal Rate (TNA)with the intention of “moderate” Loan shots. In early October, the average interest rate of Mortgage credits It was 4.3% for public or provincial banks and 5.6% for private banks of national scope, while currently amounting to 4.9% and 6.8%, respectively. “This means an increase in the initial quota (and the required income) of 20% in a 25 -year loan,” explains the economist Federico González Roucoof Empiria consultants, in X.
Source: Ambito