The real estate industry complains that lack of credit and interest rates that increased from 10% to 21% are preventing housing construction in the country.
According to Andres Salinas, an executive in the real estate sector, when the Honduran Bank for Production and Housing (Banhprovi), gave out loans at rates of 10%, the fees paid by buyers were smaller, but now "there are no funds and banks are granting some at 18.5% and others at up to 21%, there is no capacity," he said.
During the first semester of 2008 the banks increased their earnings by 18 percent in comparison to the previous year.
President of the National Banking and Insurance Commission (CNBS), Gustavo Alfaro, reported that the banks in Honduras are solid and that the financial crisis in the United States has not had any immediate effect on the national system.
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