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Banco Macro cuts mortgage rate to 7.5% in line with government cap
🇦🇷 Argentina /Economy & Trade

Banco Macro cuts mortgage rate to 7.5% in line with government cap

From La Nación · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • Banco Macro cut the annual nominal rate on its UVA mortgage line from 8.5% to 7.5%, matching the government’s planned ceiling for loans funded through the Sustainability Guarantee Fund.
  • The preferential offer applies to Selecta Salary Plan customers and their children, with financing available nationwide for home purchases, improvements and renovations over up to 20 years.
  • The move comes before the first auction of government-backed funds intended to expand long-term mortgage lending for first homes.

We lowered the rate to 7.5% and are again offering terms of up to 20 years for mortgage financing. With this update, we seek to send a concrete signal to the market.

— Juan ParmaThe Banco Macro CEO explained the rate cut and the return of longer mortgage terms.

This improvement in conditions allows our customers, and their children as well, to plan the purchase or improvement of a home with a much more affordable instalment, in line with what the country needs at this stage.

— Juan ParmaParma described the expected benefit of the preferential mortgage offer.
About this summary

Originally published by La Nación in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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