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Although very popular, the phrase "dream of homeownership" has not been repeated as much in recent years because of adverse conditions for the granting of funding. At the beginning of 2017, the average interest rate for financing was 15.4% a year, according to the Central Bank. But the situation has changed in the last two years, with a reduction in the rate in all banks and greater ease of obtaining money, while raising expectations with the resumption of activity in the country. building sector.
Interest in real estate financing followed the downward trend of the Selic, which rose from 14.25% in October 2016 to 6.50% in April 2018 – the lowest percentage of the Brazilian historical series. With the lower interest rate, private banks decided to facilitate credit and intensify competition with Caixa Econômica Federal, then market leader.
With a minimum rate of 10.25% year in the housing finance system (SFH), which accounts for the bulk of the negotiations and uses savings resources, Caixa lost space and reacted in April 2018 with the first reduction after 17 months. The bank gained two more in the following months, until it reached the minimum rate of 8.75% per annum. In the real estate finance system (SFI), which was considered floating since it was not regulated by the Central Bank, the rate fell from 11.25% to 8.75% over this period. period.
Despite successive reductions, Caixa left having the lowest rate of the housing finance system. As reported by the report with the five largest banks in the country, Itaú offers an annual interest rate of 8.30%, followed by Banco do Brasil with a minimum of 8.45%. The list also includes Santander and Bradesco, which offer rates of 8.95% and 8.99% respectively.
Professor and economist Jurandir Sell explains that after requesting funding, the bank badyzes client information and creates a score to rank it in a credit range, which will determine the rate that will be offered in the proposal .
– By maintaining good relations, making investments, financing and paying bills on time, we can make the necessary investments, the bank will see that you are a well-organized payer and that your credit score increases considerably . The score is therefore a story of a lifetime and is essential for low rate proposals, which will not happen if you are constantly renegotiating and you are not paying your debts.
Beyond the minimum interest rate is not the reality of many There will also be an increase in the reference rate, an index correcting the debit balance of the savings accounts and the FGTS. The adjustment has not been applied since September 2017 because the interest of the table is set to zero. But since there is a link to the contract, future payments can be affected, even if the funding is long-term.
19659010] Subordinate banks in the federal government still offer the pro-quota, which uses FGTS money. Caixa has an initial interest of 7.75% per annum, the lowest for those who do not fit in the rules of My House, My Life – which is included in the housing finance system, but has differentiated rates . At Banco do Brasil, the percentage is higher and reaches a minimum of 9% per year.
In addition to interest rates, another favorable condition for the purchase of the house is the increase in the percentage of the property that can be financed. If early 2018, Caixa limited the credit to 50% of the badessment of the residence, the institution now paid up to 80%. Banco do Brasil, Santander and Bradesco have established the same level, while Itaú costs 82%.
The interest of banks to tighten competition and offer better financing terms is to try to conquer customers on a market considered safe, the property is used as collateral if the customer can not pay down payments . With the prospect of a recovery of construction activity in Brazil in 2019, the bet of this sector is expected to further reduce interest rates.
– We have the lowest reference rate in the history of Brazil and the downside outlook for the current year it comes. The interest is actually attractive to anyone who wants to buy real estate or build. In recent years, the demand for people looking for housing has closed and we have the capacity to significantly accelerate our civil construction work, which is a very interesting point, because it brings almost immediately a reflection. on employment and income – explains economist Jurandir
Changes in the supply of credit Real estate in recent months have been celebrated by entrepreneurs in the business sector. The union representatives of the building industry of Florianópolis, Joinville and Blumenau are unanimous in baderting that it is possible to offer more attractive financing terms. accelerate investment in the sector next year.
For the president of Joinville Construction Materials Merchants Association, Rudi Soares, facilitating credit conditions is essential for the growth of the sector in 2019. Optimistic, with the possibility of market reaction, he expects more than 10% growth in the resale of building materials and finishing products.
– In recent years, we have been affected by the funding difficulties of the federal government, which has stagnated the sector. However, this condition has been reversed because we now have good credit lines in both public and private banks, which will be important for the recovery.
Real estate credit up 53% in October
Financing for the purchase and construction of real estate in Brazil with funds from the Brazilian System of Savings and Credit (SBPE) has reached a top in recent months. According to the Brazilian Association of Real Estate Credit and Savings Institutions (Abecip), this sum amounted to 5.66 billion rubles in October 2018, an increase of about 15% compared to September and 53% over the same period last year. On the cumulative amount from 2018 to October, the amount used for the purchase and construction of real estate amounted to R $ 46.5 billion, about 28% more than the same period last year . While funding for 147,600 properties was funded in 2017, it rose to 185,200 units this year, an increase of 25.5%.
The bank that granted more credits for the purchase and construction in October, the latest data published by Abecip, was Bradesco. Then come the Caixa Econômica Federal, Itaú, Santander and Banco do Brasil.
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