Mortgage Delinquency Increases by 6.6% in Panama

The delinquent mortgage portfolio reached $1.032 billion on January 31, 35% of all delinquencies in the system.

Tuesday, April 7, 2009

An analysis on mortgages by Equilibrium risk rating revealed that the financial system’s mortgage portfolio amounts to $22.4 billion or about 24.9% of all loans. Where late payments are concerned, mortgages have a much greater weight in the system, reaching 35% of all delinquent loans.

According to this study whose results were published in La Estrella of Panama, loans for less than $75 thousand are the ones facing the most problems being that they concentrate 68% of the delinquencies.

The reasons, according to Ernesto Bazán, director of Equilibrium, are inflation growth and the high levels of indebtedness of individuals.

More on this topic

Mortgage Lending Slows Down in Guatemala

November 2010

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

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 Prensalibre.com, "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."

Costa Rica: Late Payments Growing in Tourism and Real Estate

March 2009

In January, 2009, 15% of the payments in real estate and tourism loans were late, more than double the amount in August, 2008.

The figures reported by the Superintendent of Financial Institutions indicate that in August of last year, 7% of the payments on loans to the hotel and restaurant sector were late, whereas they were 15% in January of this year.

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.

Panama is number one for housing credit in Latin America

June 2008

Panama is the leading nation in Latin America for the provision of housing credit.

According to a Banco de España study, mortgages for housing purposes make up only 8 percent on average of the gross domestic products of Latin American countries. But in Panama it accounts for 24 percent of GDP.

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