Overview
- Effective November 7, ICBC reduced its UVA mortgage rates by two points to 11% for payroll-accredited clients and 12% for others, financing up to 75% of a property with 15–20 year terms and a 360 million peso cap.
- BBVA previously lowered its preferential mortgage rate to 7.5% for high‑income payroll clients, marking the first recent cut among private banks.
- Banco Nación raised its UVA rate from 4.5% to 6% and increased scoring requirements, yet it remains the leading originator with over 40% of demand.
- Mortgage activity continues to recover, with 31,500 loans granted between January and September and 42,500 since March 2024, according to Fundación Tejido Urbano.
- Economists and industry voices describe the lower rates as tactical moves subject to macro conditions, with access still constrained by documentation hurdles and lengthy processing.