Major Brazilian Banks Raise Mortgage Rates and Tighten Lending Requirements

Brazilian banks have started increasing mortgage rates and implementing stricter lending conditions as the Central Bank raises basic interest rates (Selic). Itaú Unibanco led this trend by raising its average annual rate from 10.49% to 10.79% in early October. Caixa Econômica Federal, which handles 70% of Brazil‘s mortgage lending, maintains current rates but will increase […]

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