Thinking about buying a house via mortgage is thinking in long terms, and that is that in addition to the years that the debt will last, it will be accompanied by an interest payment to be able to enjoy your own equity.

Now, is it a good time to take out a mortgage loan? Bernardo Silva, CEO of the mortgage fintech Yave.mx, and José Luis Vásquez, an academic at the Universidad Iberoamericana (Ibero), told Expansión that yes, it is a good time to do it, but as long as the following conditions are met :

1. Interest rate: never before have interest rates been so low, 8% on average for the sector, and it is expected that towards the end of this year or the beginning of 2022 they will begin their upward trend.

2. Prices: after the increases in recent years, the pandemic caused the market to slow down.

3. Promotions: many developers, seeing that the market was losing dynamism, applied promotions to be able to move (sell) the inventory, but it seems that these are here to stay.

When is not a good time?

1. Volatility in income: It is necessary to be honest about the ability to pay in order not to put the equity at risk, so if income is usually volatile or unstable, a moment of crisis and uncertainty is not a good time to acquire a debt that will be paid in 10, 15 or more years.

2. Rentals: the fact that there are good rental opportunities can also make this a better option than opting for credit.

Are you interested in moving to Mexico City? Remember that Solili allows you to perform a search to know the availability of apartments that are for sale and rent.

Check the April 2021 report from Mexico City and identify its key indicators.

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