Banks raise interest rates on financing and those who bought off-plan feel the increase more
According to Exame, those who receive the keys in the coming months are the most affected, and the fee that applies is the financing signature.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM EXAME · 2 MIN
Lula's re-election caused a rise in future interest rates, according to Revista Oeste, and the movement began on Monday, the 26th, the first trading session after the second round. Subsequently, Bradesco, Itaú and Santander readjusted real estate financing interest rates in the last week of October, according to the same publication.
According to Exame, the increase was announced by large banks over the last week and affects credit for home ownership. In parallel, Revista Oeste reports that the financial market doubts the control of public spending, and that investors fear the growth of expenses without measures to stabilize public debt.
The most sensitive effect, according to Exame, falls on those who purchased property off-plan. Those who receive the keys in the coming months will feel the increase more strongly, and in most of these cases the financing has not yet been contracted.
The rule that weighs heavily on your pocket is the date of signature. According to the Exam, the rate that applies is the day the financing is signed, and not the day the property is purchased. In other words, those who closed the deal before the increase can still contract with higher interest rates.
The case exposes a gap between the moment of purchase and the moment of hiring, and it is this interval that Exame highlights as a central point. For those planning to hand over the keys in the coming months, the bill needs to take this difference into account.
What changes for the investor
For the investor, the movement goes beyond real estate credit. If future interest rates continue to rise, the pressure could reach companies more exposed to real estate financing, such as construction companies and developers, and keep attention on banks with a strong presence in this segment. The fiscal framework also comes into play: without debt stabilization measures, the market may continue to demand a risk premium on rates. It is worth monitoring the behavior of long interest rates in the coming trading sessions and whether public expenditure gains control measures.
Automatically translated from Portuguese.
