The health crisis caused by Covid-19 showed havoc in the financial sector where the loss of employment and the lack of raw materials were part of the consequences.

While the construction sector, together with the mortgage and housing markets, reflect a clear improvement in the last two quarters of the year with a positive outlook for 2022, said Samuel Vázquez Herrera, principal economist at BBVA, at the University Forum Anáhuac Real Estate, organized by Grupo En Concreto.

The specialist said that during the strongest months of the pandemic, the banking system obtained historical drops in interest rates, consequently from February to June 2020, the balance reached 90 billion pesos, while from February to August this year the balance decreased to 80 billion pesos. However, the delinquency rate remained below 2%.

In the midst of the pandemic, companies requested more liquidity, in advance, so that in the economic reactivation, they had enough capital to maintain their activities, a factor that triggered the low delinquency rate.

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That the delinquency remains below 2%, means that the developer companies continue to pay their credits, so a crisis of payment of their credits is not expected in this period, in addition, a more mature housing market is also observed that does not runaway in the face of small positive signs, commented the BBVA economist.

In 2020, during the last three quarters of the year, nearly 200 thousand housing projects were registered, before the Unique Housing Registry (RUV), this trend was increasing until reaching in the third quarter of 2021 the registration of 278 thousand housing projects. housing in RUV.

The change of rules in the granting of loans by Infonavit (institute of the National Housing Fund for workers) helped to improve market demand.

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On the other hand, the BBVA economist rules out the existence of over-inventory since construction does not exceed the numbers registered in 2018.

In 2020, the mortgage market closed with positive figures, however they expect that this 2021 will close with better results, after obtaining an advance of 26.1% in the first semester, according to BBVA figures, from January to June, the number of loans remained a double-digit annual variation, highlights Fovissste with a variation of 34.5% and banking with 28.1%.

Also noteworthy was the increase in the amount of credit, which maintained growth in the double-digit annual variation in comparison with the previous year, with which “families generally have a greater ability to buy thanks to the credit conditions that are offered ”, he considered.

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