The end of the year is cyclically the period of greatest demand for mortgage credit, but given the expectations of a further rise in reference interest rates for the year 2022, there is a good time to request this type of financing and access a heritage.

Global and local pressures on inflation have led to a 100 basis point increase in reference interest rates (short term) so far this year.

This inflationary condition creates an environment that could affect the yield of long-term bonds and then affect the cost of mortgage loans.

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Throughout 2021, despite the volatility of the financial markets, the cost of bank mortgage credit has remained at very attractive levels, very close to its historical lows that were established last year.

According to information from Banco de México through the Monetary Aggregates and Financial Activity, they indicate that the average cost of bank mortgage credit was 10.01% in September, just eight basis points above the historical minimum average of 9.93% for the year last.

The ranges of credit interest rates show that the maximum rate is located at 14.3% and the minimum at 7%, which is a very wide margin.

This range demonstrates the need for credit applicants to compare the various options well so that they can access the best alternative offered by the market.

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Experts on the subject consider that we are still living at a stage with the best mortgage credit conditions in Mexico, but that there are internal and external factors that could lead to upward corrections in the coming months, so we are in a great moment for the demand for mortgage credit.

However, they consider that regardless of the cost of credit, the best time to apply for a mortgage is when you need to access an equity, because people got married, the family grew, because they became independent, divorced, etc.

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