September 21, 2021

Bank chief says cash will lower mortgage rates

Published on 09/13/2021 8:52 PM

(Credit: Alan Santos/PR)

Next Thursday (16), Caixa Econômica Federal is supposed to announce a cut in mortgage interest rates. This was revealed by the head of the state-owned company, Pedro Guimarães, at an event in Palacio do Planalto on Monday (13).

“Caixa will lower interest rates. Selic does not increase? So, Caixa Econômica Federal, with the profit that it never made, without theft, will reduce the interest on its house”, justified Pedro Guimarães, who participated in Habite Seguro . Launched, which will grant subsidies to police officers in the purchase of their first property.

He stated that Caixa is only able to put this kind of situation into practice because, according to him, the bank now does not have a transfer of funds “like in previous governments”. “How is this program implemented ten years ago, when Caixa had a shaky budget?” , he said, referring to Habite Seguro.

Guimarães also mentioned that the state-owned company was the fourth bank in mortgage credit when the government started, which is inconsistent with its status as a “housing bank”. “How was the room in fourth place? The answer is simple: they had no capital, they took the capital of Caixa. The balance sheet has had reservations since 2016 and in a quarter we did the opposite ”, he justified.

Although the event was aimed at public security agents, the interest rate cut made by Guimarães should apply to all audiences.

unexpected movement

This move is unexpected, since there is an upward trend in the base interest rate – which serves as the basis for loans, financing and various activities in the economy. In August, the Central Bank’s Monetary Policy Committee (Copom) decided, for the fourth time in a row, to increase Selic, which currently stands at 5.25%.

According to analyst forecasts BC heard Focus BulletinAnd The benchmark interest rate is expected to rise by the end of 2021 The year ends at 8%. Four weeks ago, the forecast was 7.5%, but expectations are increasingly higher as inflation progresses.