Mortgages, an investment in times of uncertainty – El Financiero

In times of uncertainty, Mexicans continue to choose to buy a house, this in addition to the deficit that has dragged on for years due to lack of housing for the more than 500,000 families that are formed in the country every year, it is perhaps these two conditions that have made that mortgage credit, despite everything, continues to emerge as one of the winners.

To begin with, it is such a good business that while in 2002 there were 15 banks offering this credit, there are currently 23 that have this type of financing in their business portfolio; It is a stable, safe and long-term product, where the worst scenario is that the client cannot afford the payments, but there is a physical guarantee to recover it: the purchased home.

For this reason, perhaps Daniel Becker, president of the Association of Banks of Mexico (ABM), is quite right when he says that it is in mortgage loans that it is perceived as a safe investment in times of uncertainty, and families create wealth through of this type of product, which is why the placement of new credits continues to advance without stopping, and has remained constant during this pandemic. This despite the fact that in the midst of illness, when bank customers were given the option not to pay their loans for 4 or 6 months, 34 percent of the mortgage portfolio, equivalent to more than 326 billion pesos, opted for that way; today almost 100 percent is up to date.

For this reason, it is one of the segments where the competition has remained and does not stop, attractive interest rates and at single-digit levels despite the fact that there has been pressure on the increase in rates and the long rate on which they are evaluated. mortgage loans, the search for new clients by banks continued; The outlook for the industry in this segment looks positive, with the hope for Mexicans that competition will open the door for the offer of personalized products and services to obtain a home via a bank loan to be much more attractive than the current one.


And on the other side of the coin, everything is ready for the next Banking Convention. In fact, in 2020 it was the last public event in the financial sector with all the authorities and where we did not even know the use of the face mask; In these two years, many things have changed, there are vaccines, mobile and cellular banking grew, cyber attacks and fraud at the same time, in short, it will be a challenge to bring the industry together again in the port of Acapulco, with the theme “Current challenges of banking, digitization, cybersecurity and climate change”, although the presence of President Andrés Manuel López Obrador has not yet been confirmed, it is almost a fact that he will attend, since he also promoted the meeting at the port, in support of Governor Evelyn Salgado.


And a little coin that should not be unfollowed is the ‘long-awaited’ document that the bankers were designing regarding how to operate in a better way and with a more even floor with the Fintech companies. The document that has been talked about for a long time, has not been presented to the authorities nor has it been ‘socialized’ among all, precisely because of the changes that have taken place in the heads of the main authorities, hopefully soon we will be able to find out what the banking on this matter. For now, the currency is in the air.



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