Brazil's MRV sees cancellations stabilizing at lower level
SAO PAULO Aug 15 (Reuters) - Sales cancellations at Brazilian homebuilder MRV Engenharia e Participacoes SA will likely fall back to the level seen in the first quarter and remain there through the end of the year, co-Chief Executive Officer Eduardo Fischer said on Friday.
Sales cancellations rose to 27.1 percent of gross sales value in the second quarter, compared with 21.3 percent in the first period, due to tightening of credit screening rules on mortgages from state-run lenders.
"We don't see (cancellations) rising much more," Fischer said on a conference call with analysts to discuss quarterly results. "They should remain at the level we saw at the first quarter through the end of the year and the beginning of the next." (Reporting by Asher Levine and Alberto Alerigi Jr.; Editing by Jeffrey Benkoe)
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