Finding the interest rate for financing in 2020 may be an easier task than in previous years. For those who have set aside that extra money to invest in real estate, this is probably the best time.
Because we are experiencing a very delicate period in society, the new coronavirus has forced all companies in all institutions of all powers around the planet to reorganize themselves in a different way,
Buying your own home or apartment is still one of the dreams of many Brazilians, isn't it? So know that this is the perfect time, if you meet the minimum requirements to be able to obtain financing, such as having a job or a constant source of employment, which in turn, allows you to be able to pay the established installments.
But the question that remains is, do you know what the new interest rates are?
Real estate financing interest rate 2020
Buying a property is undoubtedly the dream of most Brazilians and with the option of obtaining special interest rates, this has become much easier.
We already talked in this matter here, For those who have already managed to finance their property, but were unable to pay the debt incurred due to Covid-19, many banks are extending the possibilities of paying the debt. Stay tuned!
The drop in the Selic rate, which was announced in December 2019, to 4.5%, and the reduction in interest rates on real estate credit among the five largest banks in the country, added to the current crisis, opened space for an optimistic scenario for real estate financing in 2020.
Therefore, this year has seen a very substantial growth in financing originating from FGTS + savings” Even with the coronavirus. Crisis is also an opportunity for creation.
Rate changes due to the new coronavirus
The drop in the Selic rate due to the new coronavirus has brought new perspectives for real estate financing in Brazil. This is because it directly influences the average interest rate of new real estate financing operations for individuals with earmarked resources (FGTS and savings).
The Selic reports showed that “Falling interest rates: positive impacts on housing”, from the Brazilian Association of Real Estate Developers (ABRAINC), this rate reached its minimum level in the Central Bank's historical series of September 2019: 8.65% per year
As we mentioned at the beginning of the article, the scenario shows that there was a reduction in interest rates on real estate loans among the five largest banks in the country. After Caixa Econômica Federal reduced its rate to TR + 6.75%, private banks took similar measures.
For example, Bradesco's rate went to 7.30%, Itaú Unibanco's to 7.45%, Banco do Brasil and Santander's to 7.99% – considering the period of assessment of this article.
Did you like it? How about learning more about current mortgage rates? Then visit the official Central Bank website.
Source: Central Bank, Rates and Interest