Mortgage Lending Slows Down in Guatemala

Until September there was a reported growth of 6.87%, less than the 12% of 2009 and the 25% of 2008.

Monday, November 22, 2010

According to the Superintendence of Banks, from January to September 2010 total mortgage loans totaled $ 2.07 billion.

Mauricio Alvarez, strategic planning manager of Banco de los Trabajadores, told, "The economy has barely recovered and the most affected sector has been construction, so one of the reasons for this behavior is a lower housing demand."

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Preferential Mortgages Extended by 5 Years

December 2011

The Panamanian government has extended for another five years preferential mortgage loans previously registered with the Department of Revenue.

A press release from the Ministry of Economy and Finance of Panama reads:

Preferential mortgage loans previously registered with the Department of Revenue of the Ministry of Economy and Finance, are to be extended for five more years, as was established by Act 8 of 2010 and as has been regulated by Executive Decree # 539 of 30 November 2011. The standard applies to loan contracts which are in the first ten years of their term at the date when the regulation becomes effective.

Mortgage Loans Increase by 6.5%

December 2011

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.

Meanwhile the balance of the total outstanding mortgage loans on the same date (October 2011), increased by 19.48%.

"This year, banks have begun to further consolidate their participation in relation to mortgage loans.

$50 million for Banco General de Panama

August 2011

The International Finance Corporation has granted a loan to Banco General de Panama so that it can offer more mortgages to low-income families.

The $50 million long-term IFC funding , which will run for seven years, will enable Banco General match the maturity needed to finance mortgages for low-income groups.

Salvadoran mortgage portfolio surpasses $2 billion

August 2008

The banking system has a mortgage portfolio that surpassed $2 billion, according to a study presented by the Multi-sector Investment Bank.

The Social Housing Fund (FSV) mortgage portfolio, valued at $878.1 million in July of this year and which corresponds to 121,075 credits for new and used houses, should also be added to the total figure.

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