mortgage loans grow by 0% / Economy news – Titulares.ar

In November the mortgage loans they had virtually 0% growth over the previous month, accumulating a year-over-year increase of 34.4%.

lines mortgage loansincluding adjusted for inflation/UVA, it grew virtually 0% in November over the prior month’s stock of $366,661 million, accumulating a total closing balance of $366,792 million.

If we compare their behavior YoY, it is noted that the increase was only 34.4% in nominal terms; and if we look at the last quarter, we will see that the small bullish momentum maintained by this portfolio has been lost.

los housing becomes inaccessiblebut vehicles are the order of the day.

a report of FIRST CAPITAL GROUPexplains the pawn facility has a November 2022 end portfolio balance of $452,494 million, up 104% from a November 2021 end portfolio balance of $221,842 million, well above inflation on an annual basis, as the first in growth among credit lines and being the only one that can show growth in real terms.

“The change from the previous month’s balance marked an increase of 5.3%, accumulating two years of consecutive monthly increases. Instead, the month’s change in real terms is once again expected to be negative, given that during the last quarter”, explained Guillermo Barbero, partner of FIRST CAPITAL GROUP.

28 consecutive months of growth: personal loans on the rise

los personal loan line it grew 4.5% a month, putting together a foray of nominal growth that has been going on for 28 months without a break. The balance amounted to $1,035,064 million for the accumulated total, showing an interannual growth of 58.8%, against $651,676 million at the end of the same month of the previous year.

In November the total balance of peso loans to the private sector reaches a level of 6,737,656 million dollars, which represents an increase over the last 365 days of 2,734,257 million dollars, equal to an annual increase of 68.3%, values ​​below the inflation of the period, if we compare the values year by year and taking into account that we do not yet have the indices corresponding to the month analysed.

In the last month, November 2022, the growth was 378,269 million dollars, which represents an increase of 5.9%, a value close to inflation for this month according to estimates by economic consultants and by the government itself, in which If so, it would be the first month in which we have not seen a decline in real balances since June of this year.

A FIRST CAPITAL GROUP report individually analyzed the main lines of credit and their different behaviours.

los personal loan line it grew 4.5% a month, putting together a foray of nominal growth that has been going on for 28 months without a break. The balance amounted to $1,035,064 million for the accumulated total, showing an interannual growth of 58.8%, against $651,676 million at the end of the same month of the previous year.

“Despite this period of growth, the real portfolio continues to contract. The recent rise in interest rates conspires against the recovery in consumer credit, it being understood that wage increases from joint ventures are starting to show their influence on the higher amounts of settlement balances”, explained Guillermo Barbero, Partner at First CapitalGroup.

los transactions in pesos with credit cards reported a 2022-11-30 balance of $2,060,938 million, which means a 9.7% increase from the end of last month, about $181,573 million above October and also clearly above forecasted inflation.

Year-on-year growth reached 68.1%, and in this case fell short of the levels of inflation of the period, resulting in a contraction of the portfolio in real terms.

“The existence of online commercial promotions at the end of the month has certainly helped to recover the wallet, as has the start of the World Cup thanks to the sales of televisions and electronic devices useful for following this event. This growth finds a limit in the small update that the holders’ credit shares in installments have had in recent months”, assured Barbero.