Willingness to finance homes with soles increases | Your money

Los Mortgage credits Soles strengthen their balance to buy houses, while fewer people take this type of financing in dollars.

So DollarizationOr the percentage of mortgage loans issued in dollars, to 8.5% in June and less than 8.6% in May, halved in 2019 from 15% before the pandemic. Central Reserve Bank (BCR).

Given the volatility of the dollar, which has risen 8.5% over the past five years, although it will decline to 5.75% in 2023, more households are borrowing on soles to finance their apartment purchases.

Overall, mortgage lending by the financial system expanded 5.2% year-on-year last June, taking into account movements in both currencies.

read more: Since when will banks restrict lending in dollars to individuals and corporations?

What steps is BCR taking to reduce dollarization of loans?

This result was precisely favored by mortgage loans in soles, which increased by 6.2% year-on-year in June, while they contracted by 4.1% in dollars.

Recently, the BCR introduced new measures to strengthen the debt relief process, including mortgages for home purchases and vehicles.