The balance of the housing loan portfolio by banks ended 2021 at one trillion 94 thousand 366 million pesos, which meant a growth of 10% compared to 2020, according to information from the National Banking Commission and of Securities (CNBV).

In addition to the growth rate of the portfolio, its health also stands out, since delinquencies stood at 3.15% at the end of 2021, below the 3.35% of December 2020, but well below what was registered prior to the crisis.

It should be remembered that at the worst moment of the pandemic, the non-performing housing loan portfolio stood at 3.6%, which means that the support programs implemented by the country's financial authority, hand in hand with banking institutions, more the characteristics of the product, including unemployment insurance, together helped maintain the health of the banking portfolio.

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The balance in terms of mortgage credit was quite positive where the bank placed, and that contrasted with the good performance of the rest of the credit to the private sector.

The evolution of mortgage credit in 2021 stands out, where more than 260 billion pesos were placed in new loans (preliminary figures), highlighting the highest average credit in history, around 1.75 million pesos.

The interest rates of the mortgage product were among the lowest in history and contributed to trigger a large rebound in demand, where the weighted acquisition rate was below 9% and increased to 9.25% in the last quarter.

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Additionally, the demand guaranteed by the demographic bonus, the creation of more than 650 thousand families each year and a high housing deficit, with demand contained in 2020 due to the pandemic, contributed to motivate the placement of mortgage loans.

And if we add to this the design of the mortgage product, with fixed rates and known payments, everything added up to have very favorable conditions for demand. In 2022, higher interest rates on housing loans are expected, without major adjustments where experts consider that they will continue to be attractive for credit applicants.

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