He mortgage credit It will have growth between similar to 2023 and an increase of 5%, according to estimates by different leaders of the banking sector in Mexico.
They expressed their opinion in the Mortgage Outlook Panel 2024 organized by Soc Advisors, one of the largest companies in brokers in Mexicothis is from advisors who help the population manage their credit in different financial institutions.
So, Enrique MargainExecutive Director of Personal Loans of HSBC; Tony Artigues Fiol, Director of Private Credits Santander; Roberto Gandara, Executive Director of Mortgage Credit Banorte y Gonzalo Palafox, director of Mortgage Credit of Citibanamex They stated that the challenges begin with adapting to the environment.
Bank managers are committed to reducing the volatility generated by various factors such as the war environment, in addition to trusting in the control of inflation in Mexico and the final arrival of the reduction in interest rates that, according to what was said by the Governor of the Bank of Mexico (Banxico) we could have a signal starting next March.
Likewise, they stated that this year they are betting on new products not only on co-financing with National Housing Organizations such as Infonavit and Fovissste, but also on the resurgence of mortgages for non-residents, this is for foreigners and also for nationals who do not live in Mexico.
For managers, it is important to promote accessibility to credit and launch new products, but they reiterated their desire to promote sustainability in their processes and also with “green” mortgages.
They also observe opportunities with nearshoring which, they indicated, is beginning to demand housing for their workers who will settle in the country.
BROKERS ALSO BET TO BOOST CREDIT
For its part, Cybel MagañaMortgage Director of Soc Advisors He stated that with the background that in 2023 they managed to place the same amount vs. 2022, he was betting on growth of at least 5% for 2024.
Thus, he agreed that banks in general reduced their distribution of credits by 15% in number and 5% in amount.
“We did not have the drop that there was in the market and the growth of the last 5 years of 96%, so we knew that 2023 was a year of consolidation. And now we do have a growth goal and we plan to do so by 5%.”
Thus, he said that given the environment with the electoral process, they foresee a recurrence of liquidity credits.
“We hope that Banxico can exit in March as the Governor announced with a reduction in interest rates; This would bring us to the market of people who see the monthly payment very tight. Thus, every 100 basis points would reduce the monthly payment by $300 to $400 pesos. “That can help those who today lose their profile due to the monthly payment amounts,” she said.
The board agreed that some of the products that will be most requested in 2024 are liquidity credit, as well as credit portability.
And he mentioned that mortgaging property in Mexico is already being put into practice to be able to buy abroad and aspire to residency in another country.
2024-01-16 23:57:32
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