The Value of the Brazil stockmarket and level of credit are back to pre-Lehman-collapse levels already. Many analysts believe Brazil will return to annual growth < 4% already, meaning the country escaped with only the briefest recession. For the first time since the 1960’s the interest rate in Brazil has dropped to single figures which, combined with an incredibly strong Real rally (24% against the US$ over the past 6 months) is resulting in previously unseen long-term optimism.
As a result, Bradesco, a large bank, has started to offer 30 year mortgages, something unthinkable a short time ago, and even lower interest rates are expected to boost mortgage finance markets even further, currently a mere 1% of GDP … watch out for the rapid development of the Brazilian mortgage market.
For full report read The Economist.
Tags: mortgages, Real Estate
While we’re in the Lowest interest rates in Brazil for 30 years produce 30 year mortgage | PLG, Brazil Investment Blog zone, Unfortunately, not every homeowner qualifies for a loan modification. If you currently have no income, or any prospects of becoming re-employed in the near future, you may not qualify for a loan modification.