During 2021, of the loans granted by banks to the private sector, the mortgage is the one that is growing the most. The mortgage portfolio is approximately one trillion 45 billion pesos and increases at an annual rate of 9.4 percent.

The magnitude and growth of the mortgage portfolio is explained by different reasons led by the demographic bonus; we are talking that the average age in Mexico is 29 years old and 650 thousand families are created each year that require a housing solution.

In particular, mortgage credit solutions offer the best conditions of the last two decades. We're talking about the products having the lowest interest rates we've ever had, which is a very positive element.

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Likewise, there is a range of mortgage products that allow satisfying the different needs in terms of housing financing. Also, the design of the products is very important, because they have a fixed rate, known payments over 15 or 20 years; In addition, as part of said design, life, damage and unemployment insurance are integrated.

Another component that helps is that home values grew above inflation, but without generating a price bubble.

In addition, in Mexico, people buy a home to create equity, being an element that favored the acquisition of real estate not to stop.

The sum of all these elements allowed mortgage credit not to stop, and rather to quickly regain its growth dynamics.

It is worth considering the issue of mortgage portability because interest rates established the lowest historical levels, so many people took the opportunity to negotiate an improvement in their credit conditions or to change their mortgage from one bank to another .

The above is a way of restructuring a loan, because they lower the interest rate and, hand in hand, the monthly payment. In some cases it was also used to adjust deadlines.

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On many occasions, accompanied by a liquidity credit, since this allows debts to be consolidated, that is, to pay short-term liabilities and with higher interest rates, consolidate them into a single credit and with lower interest rates. That also helped reshape the debt enforceability balances of many families.

Therefore, what grew the most in 2020, derived from the health contingency itself, was portability, the change of liabilities or mortgages to improve conditions and liquidity.

During 2021, what we are observing is that everything that is home purchase credit is gaining strength, which should represent approximately 85% of the bank mortgage placement, complemented with mortgage improvement, liquidity and renewal loans or extension.

Undoubtedly, the mortgage sector has been extremely resilient and today is an excellent time to contract a mortgage loan due to the interest rate conditions and the wide range of products, in addition to the aforementioned.

In Solili you can locate apartments for sale in La Roma, Condesa and Del Valle

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