In the midst of a competition that seemed dormant, Mortgage credit has once again gained a place in everyday conversation. In recent days, several entities have adjusted their lines from UVA downwards, offering longer terms and reopening access to families with formal income.
The movement is not uniform, but represents a trend: with somewhat friendlier interest rates, the issue ceases to be whether credit is “there” or not, and becomes How to compare options, understand the ins and outs, and make a decision If it’s time to come in or if it’s better to wait.
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“Since the crisis we had with the exchange rate, interest rates have gone through the roof. The government was aiming for a ‘monetary squeeze’: on the one hand, the banks had to keep more money in the central bank, and on the other hand, The reference rate was too high. This made banks very restrictive in lending and made everything more expensive. After the elections, the market calmed down. There were measures such as swaps with the United States that increased reserves; Country risks decreased. Stocks and bonds rose. A climate of optimism has emerged, and it is possible to ease the reference prices. “It started to decline since last week and this affects many activities, including mortgages: banks have updated conditions and new opportunities have emerged,” says Gisela Ferritier in an interview with After Office (Punto a Punto Radio, 90.7).
At this juncture, the economist warns: “Today we see that Government banks have more competitive rates than private banksAnd that “with financial normalization, more credits will begin to be granted.”
What changed in the system for the credit to appear again?
Standardization is not just about prices; It also returns banks to their specific function: Taking deposits and converting them into loans. Ferrier sums it up clearly: “Not only economic activity has normalized, but also banking activity: deposits are once again turning into loans.”
In this process, the audience usually moves first, even with completely non-commercial logic. “For example, Banco Nación offers interest at 6% per annum, finances up to 75% of the appraisal value and allows terms of up to 30 years. The fee-to-income ratio is 25% and the income of the spouse or cohabitant can be added,” he describes. These types of conditions, he says, It puts an end to competition and forces private companies to review their boards.
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The question quickly arises that dictates the decision: Is it better to enter now or wait for another loss? Ferritier recognizes that the price trajectory is downward if normalization continues, and that prices are already close to the average rent. But he asks not to lose sight of the nature of the product: “You have to understand one key thing: a UVA loan is not a pure peso loan; it is in a homogeneous unit. If inflation does not stop, the fees continue to be adjusted by the UVA. Even with a 6% rate, if there is a 2% monthly inflation, 2% is added. And if there is a depreciation that is converted into prices – as happened in the Macri government – that hits the UVA and complicates those matters. Who had those credits.” He emphasizes that the “image” that seems clearer today may differ from the “movie” thirty years from now.
Who arrives and what to look at without getting lost in the technical details
As prices fall, access again depends on two hinges: steady income and the ability to read every offer. On the first point, they weigh The relationship between fees and income The possibility of adding salaries within the home. In the second, the key is recognition Financing ratio (LTV), Total costs (Terrorist financing, insurance, expenses) and Possible quota cap mechanisms When salaries work differently than UVA.
Vertier also suggests looking at the “link” each bank requires: “Banks want the customer to have a bundle of products – payroll, cards – that helps get to the lowest rate. It depends on each entity.” He adds a novelty that adds competition through less traditional means: “A striking case is Brobankthe first BCRA-certified digital bank: publishes interest rates up to 8%, funds up to 70% of value, and the process is 100% digital, with great operational flexibility. “It is the ‘modern’ option for the mortgagee.”
The advice he leaves between the lines is wise: Not enough with the shares closing today; You should check what happens to these fees if inflation takes a while to come down, if the salary rise is less than UVA or if “hidden” costs appear in the credit structure.
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Even with a friendlier environment, The decision is not purely financial. weight Risk aversion for 30 years In a country that shakes the table from time to time. “I’m not the one who gets these credits. Thinking ahead 30 years makes me feel insecure. Not because of today’s photo—it looks good—but because the photo I took today looks good,” Vertier says frankly. We cannot predict what tomorrow will look like. We don’t have all the ingredients to think this long term; “We are not Europe or the United States.”
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