On the other hand, the dollarization of mortgage credit fell to 9.1% in May, lower than the previous month when it registered 9.2%.
The Central Reserve Bank of Peru (BCRP) reported that mortgage credit grew 1% monthly in May.
With this result, its year-on-year growth rate accelerated from 7.5% in April to 8.1% in May, being the highest year-on-year rate since March 2020.
Loans in soles and dollars
The issuing entity also specified that this behavior was favored by the year-on-year increase in mortgage loans in soles with an increase of 11%.
Likewise, it indicated that the dollarization of mortgage credit was reduced to 9.1% in May, lower than the previous month when it was 9.2%.
“Compared to the level observed in May 2021, dollarization was reduced by 2.4 percentage points,” the BCRP clarified.
Note
The expansionary monetary policy of the BCRP during the pandemic contributed to mortgage lending, although it slowed down at the time, being the most active during this period, mainly due to the greater volume of loans of smaller amounts.
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