Caixa expands low‑income housing credit, boosting Brazilian builders

Itaú BBA reported that Caixa Econômica Federal plans to raise its housing‑loan origination to R$260 billion in 2026, maintaining strong credit availability for low‑income projects under the Minha Casa Minha Vida program. The bank highlighted a continued market share concentration in efficient builders such as Tenda, Cury and Direcional, noting the sector’s recent 15% price decline reflects exaggerated market fears.

Empiricus Research sees the same market dip as a buying opportunity, pointing to a 19% fall in July and naming Direcional Engenharia as its top pick. The analyst cited attractive valuation multiples, solid cash‑flow generation and exposure to the housing program, while acknowledging macro‑economic and geopolitical risks that could affect material costs and margins.