Credit for housing restricted in Nicaragua
The Banking Superintendence issued a ruling ordering that starting January credit that is greater than 40% of the salary of the person requesting the loan should not be granted.
Thursday, December 18, 2008
This is applicable to requests for financing for housing or consumption, confirmed the head of the entity, Victor Urcuyo.
The bank hopes to offer $548 million in loans for consumption, housing and development in 2009.
Because of fluctuations in the exchange and interest rates there is more reluctance to provide financing.
Banks will raise the interest rate for housing loans by one point. Currently the rates are at 9.5% (fixed rate) and 10.5% (variable rate).
The statistics on loans granted in the first months of the year reflect the economy's recovery.
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