Overview

• In June, 3,511 mortgages were granted versus 3,866 in May, marking a 4% drop and a second straight monthly decline, according to Fundación Tejido Urbano.
• The first half topped 19,000 loans with about US$1.601 billion disbursed, the strongest in six years, as monthly flows leveled near US$300 million.
• The BCRA’s credit-conditions survey shows the first net tightening since 2022, while 50% of banks reported more applications and only 6% reported fewer.
• Banks lifted nominal UVA rates—Banco Ciudad to 9.9% and Banco Galicia to 11.5% for payroll clients—while approval timelines stretch to 3–4 months and a major lender reports 20% fewer August grants than in July.
• Real-estate brokers report roughly half of mortgage-backed sales facing delays as industry groups push securitization to replenish funding and avoid a short-lived recovery.