Overview

• BBVA reports Mexico’s commercial banks issued 44,500 home-purchase loans in H1 2025, down 6.8% year over year, with total lending falling 10.3% and the average mortgage size dropping 3.7%.
• BBVA attributes Mexico’s pullback to stalled formal job creation, faster house-price gains (Q2 up 8.7%) and mortgage rates that have not followed policy cuts due to long-bond pricing.
• Infonavit increased acquisition lending through June (loans up 5.1% and amounts up 7.6%) as Fovissste contracted, partially offsetting weaker private-bank activity in Mexico.
• Argentina’s mortgage flow hit multi‑year highs in September, yet banks have tightened access with higher score cutoffs—often above 900—stricter income and job‑tenure rules, and nominal rates drifting toward the 10% area.
• Volatile dollar moves are pushing Argentine borrowers to accelerate closings because loans are disbursed at the official exchange rate, which can reduce the effective dollar value delivered at signing.