Tuesday, April 23, 2024

Logo Central America Link

Mexican banks boost mortgage lending for wealthy

Friday, November 23, 2012

Mexican banks flush with cash are targeting wealthier clients and women as a way to cash in on the country’s surging mortgage market.

The nation’s biggest lenders are tailoring products to grab their share of the 14.6 million additional homes the nation is expected to add between 2010 and 2040.

Mexico, Latin America’s second-biggest economy, is poised to grow faster than Brazil, the region’s largest, for a second straight year, helping the expanding middle class buy homes.

Source: Bloomberg