Mortgage credit increased 0.4% in January 2022

The Central Reserve Bank of Peru (BCRP) reported that, during January of this year, the mortgage credit registered a growth of 0.4%, thus reporting a year-on-year expansion rate of 7.3% compared to the increase of 7.6% in December 2021.

This performance was influenced by the year-on-year increase in mortgage loans in soles, whose growth rate was 10.2%.

The entity added that expansionary monetary policy has helped these loans maintain positive growth rates during times of heightened mobility restrictions to contain the spread of COVID-19.

“For this reason, the mortgage segment, although it slowed down due to the paralysis of large real estate projects, was the most active during this period, mainly due to the greater volume of loans of smaller amounts,” the BCRP specified through a note. of press.

Also, the dollarization of mortgage credit it fell two percentage points in the last twelve months, from 11% in January 2021 to the low of 9% at the beginning of 2022.