Mortgage loan applications begin to fall due to current access conditions | Economy

The demand for mortgage credits it began to fall, according to the Central Bank (BC), which found a greater deterioration in the conditions to access a home loan.

In the Association of Banks (Abif) they urge recover savings and investment, to reverse the scenario.

It has been quite an issue, particularly starting in the second semester and the Central Bank clearly mentioned it: access to mortgage credit fell by twenty years in terms of interest rates, terms and standing to apply for the loan.

These were data that were revealed in the IEF of the second semester and that today the president of the issuing institute, Mario Marcel, presented to the Abif, where he also provided new information on how the flow of credit has advanced in the financial industry.

He said that throughout the year the most noticeable movement was the drop in consumer loans. Mortgage loans had been stable, but in recent weeks they have already started to fall.

That was on the demand side, but on the supply side the term was shortened. Mario Marcel commented that, in addition, the possibility of accessing a fixed rate it has become increasingly rare.


This was also a matter of concern among businessmen, in fact, it was one of the issues discussed yesterday in Enade, because it has to do with structural aspects of the Chilean economy.

In the Chilean Chamber of Construction they said that the picture is dark and uncertain, especially thinking about the housing deficit.

One of those who took the floor was the president of the Abif, José Manuel Mena, who made a call to recover the investment capacity, because that, even if it is a long process, it’s the way to refinance long-term loans.

In financial matters, the greatest risks, according to the Central Bank, point to the fact that the reduction in savings and investment in Chile also increases dependence on external markets to obtain financing, also causing a greater exposure to abrupt capital outflows.

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