Clipping of news on Brazilian Culture, Law and Citizenship
27/07/2012
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According to BC, the indebtedness of households with housing loans increased from 27.2% in January 2009 to 31.2% in April 2012
SAO PAULO - The increase in household debt is due "in large part to the expansion of housing loans," he said today (26) the head of the Central Bank's Economic Department, Tulio Maciel.
According to Maciel, in January 2009, total household indebtedness in relation to a year in income accounted for 32.15%. In April this year, the percentage stood at 43.3%. When removed from this calculation, the indebtedness of households with housing loans increased from 27.2% in January 2009 to 31.2% in April 2012.
"This is evidence that much of the growth of the debt stems from the expansion of housing credit, which is something positive. Families are building equity, and improving quality of life, "said Maciel.
Maciel also argued that the expansion of domestic credit is accompanied by the growth of household income. "There is a significant increase employment and also improving wages. The credit has grown because the payment capacity of households allowed it, "he added.
According to Maciel, the commitment of the monthly income of families with debt payments to the financial system "has shown stability since the first half of last year." In January 2010, the percentage was 19.7%. In the same month last year, reached 19.8% and rose to about 22% in August last year. In April 2012, this percentage was 22.1%.
The reduction in the amount that people need to pay per month to pay off debts is because the payment terms are larger, influence the growth of housing finance. With the longer term, the shares of funding are also smaller. Another factor, Maciel continued to decrease in the impairment of income is the reduction of interest rates.
Source: InfoMoney
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This article was translated by an automatic translation system, and was therefore not reviewed by people.