Real estate loans in Brazil financed through savings deposits increased 23.7% in January year over year to reach 3.84 billion Brazilian reais, according to an O Estado de S. Paulo report carried by Diário Comércio Indústria & Serviços, citing data from mortgage lenders' association Abecip.
However, in the 12-month period ended in January 2018, Brazil's mortgage financing with such loans amounted to 43.89 billion reais, 5.5% lower than in the previous 12 months, Abecip reportedly said.
Meanwhile, lenders financed some 15,800 properties under the scheme during January, 8.3% more than in December 2017 and 19.8% year over year. In the 12 months through January 2018, 178,220 properties were financed, down 10.6% from the previous 12-month period.
January also saw Banco Bradesco SA and Banco Santander (Brasil) SA overtake Caixa Econômica Federal as the leaders of real estate financing through savings, Valor Econômico reported, also citing Abecip.
During the month, Bradesco reportedly disbursed 850.9 million reais under the scheme, while Santander released 809.6 million reais. Caixa, meanwhile, lent 749.7 million reais as the state-controlled bank decreased its lending output to focus on meeting Basel 3 capital requirements.
As of March 1, US$1 was equivalent to 3.25 Brazilian reais.
