What is the total financial cost of a bank loan?

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05-07-2018
The devaluation and the rate hike halted purchases in installments and loans for housing and staff in June, which grew by less than 1% in one month
The financing personal loans credit cards and mortgages is decelerated ] with force in June for the impact of the devaluation of the peso and high interest rates

Personal loans experienced a noticeable deceleration of its growth with only an increase of 0.84% in June compared to May.

The balance amounts to 408.388 million pesos for the accumulated total, representing a growth of from 47.30 %, against 277,249 million pesos from the end of the same month of year before .

The operation by means of credit cards it barely reached an increase of 0.43% compared to the end of last month; and the growth of the year reached 35.01 %, mainly due to inflation.

"The rising rates of and volatility caused several entities dear their lines from personal credits . While rates start to Starting from one 40/45% the key of the agent is The total financial costs reach levels of 80% explains Guillermo Barbero, first partner of the capital group

These costs have impacted the line of credit which was the Barbero explains: "Very quickly the World Cup fever and some odds. supply and promotion of 12 quotas have ended. without interest in the televisions . in the line of personal was also felt during June the impact of the rate increase which obviously resulted greater prudence Barbero concluded.

The lines of mortgages including those adjustable for inflation / UVA, continued to grow reaching a rise of 3.70%, half of month last accumulating a total stock at the end of $ 203.585 million .

The growth of was 161.22% and continues to be the line with greatest growth year after year.

"But this is not the exception and it is clearly observed the cooling mortgage loan this line who was the big protagonist of last year, today It is clearly seen affected by the instability of the type of change "said Barbero.

According to the relieved entities, said l & rsquo; Expert, was the considerable decline in claims to access a mortgage loan .

"It is clear that these decisions are very transcendence for supply and demand, banks and potential debtors will observe how they reorganize the values ​​ of the real estate market before the restart of operations postponed, "argued Barbero. [196] 59023] / ***
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