2023-09-25 22:04:46
The real estate platform from Monterrey, Doorvel, considers that at the current level of interest rates for mortgage loans, which operate at a weighted average of 10.2 percent and given the expectation of a drop in their level, currently it is a good time to acquire living place.
“Mortgage interest rates will not increase in the remainder of this year and it is estimated that they could even decrease in 2024, mainly driven by the capture of new productive investments, and by the macroeconomic stability of our country,” highlights a study by www.doorvel.com.
He added that one of the leading banking institutions in the country, announced important adjustments in its mortgage interest rate, with the aim of supporting clients to complete their home purchase plans, which is a reflection of an improvement in the outlook. for the acquisition of a property.
“Some banks in Mexico estimate that interest rates for mortgage loans will remain stable at current levels for the remainder of 2023, with a possible downward trend towards the first months of 2024, point out experts from the technology platform. .
“Interest rates on mortgage loans report a weighted average acquisition rate of 10.2 percent, and the expectation is that they may drop at the beginning of next year.
“The value of inflation in Mexico must also be taken into account, because this indicator is the reference for rise or fall in mortgage interest rates in the market.
The higher the indicator, the faster the increase in rates is reflected, but if the market is stable or even a decrease is reported, the rate decreases,” the study details.
It indicates that this 2023 Mexico began with a reference interest rate of 10.50 percent annually, and 2022 closed with an inflation of 7.82 percent annually and although “both are two very adverse conditions for the average worker, but, still, It is a good time to buy a home due to the macro and microeconomic stability of Mexico.
“We must take into account that in mortgage loans there are different factors that depend on the financial status of the person requesting it and that directly affect the credit. Because mortgage loans are long-term, an important factor is the payment capacity, how much the monthly income of the person acquiring the mortgage is and what amount they can allocate each month to pay for the home,” he explained.
He highlighted that the Association of Banks of Mexico (ABM) has indicated that the bank is working to provide borrowers with new tools that make it easier for them to access a mortgage loan, such as extending the term to up to 25 years when previously the maximum term was 20 years.
“The real estate sector is constantly changing, and although sometimes the macroeconomic situation is not optimal, the difference in costs exists between market supply and demand,” the study explains.
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