April 12, 2016 / 7:37 PM / 2 years ago

Brazil's Caixa sees mortgage disbursements down 3 pct this year

SAO PAULO, April 12 (Reuters) - State-controlled Caixa Econômica Federal SA, Brazil’s largest mortgage lender, expects home loan disbursements to fall 3 percent this year due to a decline in the amount of credit funded with a local Savings and Loans System fund, an executive said on Tuesday.

Brasilia-based Caixa could raise interest rates on home loans again this year, if necessary, to adjust for the higher cost of funding and less available resources, said Teotônio Rezende, the bank’s vice president in charge of home lending.

The stock of mortgage loans at the bank could fall to 87 billion reais ($25 billion) this year from about 90 billion reais in 2015, he added. ($1 = 3.5195 Brazilian reais) (Reporting by Aluísio Alves, writing by Guillermo Parra-Bernal, editing by G Crosse)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below