Interest rates on the mortgage loans would decrease from 7% to 6% this year, achieving a new historical minimum, given the lower cost of funding the Mivivienda program, estimated the Bank Association (Asociación de Bancos, Asbanc).
If the macroeconomic strength remains and the funding falls, there is space this year to reduce the interest rates in both soles and dollars, according to Alberto Morisaki, Asbanc’s Manager of Economic Studies to Gestión.
According to SBS’s report from January 25, the Effective Annual Rate (Tasa Efectiva Anual, TEA) charged by banks in mortgage loans has an average of 7.6% in national currency and 5.7% in dollars.
Asbanc’s Manager of Economic Studies also said that in this meeting the idea is to deliver several proposals to see how the interest rates for mortgage loans can drop even more. He explained that in this event the new details for financing, that will be channeled through the Mivivienda Fund, will be discussed as well.
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