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Brazil new mortgages jump 84% in October

Kitco News

SAO PAULO (Reuters) - Mortgage loans reached 13.9 billion reais ($2.58 billion) in October, up 84% over the same period in 2019, reaching a new record, mortgage lender association Abecip reported on Tuesday.

From January to October, loans from the banking system to finance the purchase and construction of real estate advanced 48.8% versus the same period a year earlier, to 92.7 billion reais, exceeding the total of all of last year.

($1 = 5.3900 reais)

Reporting by Paula Laier, writing by Carolina Mandl

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