For the first time in history, the Brazilian intrest rate is lower than 10%, the Banco Central lowered the rate to 9,25%.
Only since 2005 has the intrest rate slowly been decreasing towards 15% and below.
For the first time a whole generation of people will be able to finance the acquisition of a home. Caixa Economica lowered this week the intrest rate to tariffs between 8,2 and 11,5% per year in the context of the Sistema Financiero de Habitacoa (SFH), which allows people to finance their proper home at a maximum sales price of 500.000 R$. This is a decrease of 10,58% compared to the rates of April.
Also Banco do Brasil lowered it’s intrest rate for real estate financing last week from 8,0% to 8,4%. They finance upto 80 to 90% of the sales value. Banco do Brasil also lifted the finance period from 300 months (25 years) to 360 months (30 years). The minimal financing amount has been highered to 150.000 R$ and the maximum amount is now 450.000 for loans in the SFH program (1,5 million R$ in case of a normal bond).
Also interesting is that Brasil is now financing 10 billion US$ to the IMF (see article below).
Tags: brazil intrest rate, selic
