Costa Rica: Banks restrict housing credit
Because of fluctuations in the exchange and interest rates there is more reluctance to provide financing.
Thursday, August 7, 2008
After a period of credit surplus and very attractive financial conditions for borrowers, financial entities are now taking a more conservative position with regard to risk, and, in many cases, reducing the amounts that are financed through bank loans.
The Panamanian Credit Association reported that in October there were a total of 204,000 active mortgages, 6.46% higher than in the same month in 2010.
The Panamanian government has extended for another five years preferential mortgage loans previously registered with the Department of Revenue.
From January to November 2008 13,780 loans were granted, compared to 17,938 in 2007.
A regulatory amendment empowers the National Housing Institute of Costa Rica to grant mortgage loans to legal persons.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar