No Mortgage Recovery in Guatemala

Loans to the construction sector in 2010 reported a 0.4% drop compared to 2009.

Monday, February 28, 2011

At the end of 2009 the banking sector loaned $ 816 million while in 2010 the figure was $ 813 million.

Likewise, defaults on housing loans increased by 1.4%.

"This was the only sector which reported a drop in the loan portfolio, which, in general, went up 5.6%," reported Sigloxxi.com.

More on this topic

Housing Credit Down 55% In El Salvador

September 2013

Up to June banks had only provided financing for housing projects worth $14.36 million, while in the same period last year it had already reached $32 million.  

"The new housing projects can be counted on the fingers of one hand," said the executive director of the Salvadoran Chamber of Construction Industry (Casalco), Ismael Nolasco, adding that the drop is a reflection of an industry that is not investing in large housing projects because it has seen any demand.

Panama: Boom in Construction Loans

April 2013

In January 2013, banks granted the construction sector loans worth $2.92 billion, which is $89.6 million more than in January 2012, when the figure was $2.83 billion.

These type of loans, represent 11.45% of the loans granted by the National Banking System, which adds up to a total of $33.5141 billion.

Best Rates for Homes in Guatemala

August 2012

In recent months the interest rates for new home purchases have declined from an average of 13.02% to 12.23%.

Banking institutions have added new options to their loan portfolios, such as funding for improvements and to buy a used house.

"Oscar Sequeira, coordinator of Statistics at the Construction Chamber of Guatemala (CGC), said that interest rates are down worldwide due to policies pursued by central banks and that has had an impact on reducing the level of fees charged for housing finance", reported Elperiodico.com.gt.

More Credit for Construction Sector in El Salvador

March 2012

In a clear demonstration of the return of confidence in the banking sector in January 2012, construction loans increased four fold compared to January 2011.

Two reasons behind the increase in lending: the 8% growth of the industry in 2011 and the return of confidence in the banking sector, reports Elmundo.com.sv.

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