Argentina implements new measures to boost mortgage credit market

The Argentine government is implementing measures to stimulate the mortgage market. Economy Minister Luis Caputo announced that the Sustainability Guarantee Fund (FGS) will allocate two trillion pesos to banks to expand mortgage credit offerings. This initiative aims to provide housing solutions for an estimated 17,000 to 18,000 families.

In response to these developments, Banco Macro has introduced new credit lines. The bank lowered its UVA mortgage rate to 7.5% and extended financing terms to up to 20 years for its Plan Sueldo Selecta clients and their children. Additionally, Banco Macro launched dollar-denominated credit lines for real estate developers, following regulatory changes that allow banks to use up to 15% of dollar deposits to finance sectors that do not generate foreign currency.

Other regional housing initiatives include a program in Montevideo, Uruguay, offering interest-free loans for home improvements, and a provincial agreement in Neuquén, Argentina, to facilitate technical documentation for the Neuquén Habita credit plan. In Mexico, Infonavit continues to offer the 'Equipa tu Casa' credit for home equipment and repairs.