Overview of Mortgage Credit Performance in 2025
The mortgage credit sector in Mexico concluded 2025 with a restrained performance, marked by economic uncertainty related to tariffs and a less dynamic environment.
Although the cycle of interest rate reductions generates better expectations, the sector anticipates a gradual recovery in 2026.
Expert Insights and Predictions
Cybel Magaña, the National Credit Director at SOC Asesores, suggests that mortgage financing for home acquisition could grow between 2% and 3% in 2026.
“As of September, we had accumulated negative 0.9% figures; for the following year, we believe we will eliminate, at least, the negative trend or even grow a bit more,” Magaña stated in an interview.
Gonzalo Palafox, the Coordinator of the Housing Committee at the Mexican Association of Banks (ABM), explained that approximately 276 billion pesos in mortgage credit were placed during 2025, a figure similar to that registered in 2024.
“Buyers are requesting more resources, but we are financing almost 5% fewer families,” Palafox said. This behavior is largely due to the rising housing costs, which force individuals to seek higher financing amounts, though fewer people can access them.”
Interest Rates and Economic Outlook
Palafox elaborated that reference interest rates for housing financing, measured through the Bono M10, decreased around 42 basis points and reached approximately 8.79% by November, down from 10.37% in July.
“This reflects a more optimistic economic outlook moving forward, which could be reflected in the granting of credit for subsequent periods,” Palafox, also the CEO of Hipotecario at Banamex, declared.
However, experts agreed that lower interest rates alone do not guarantee a rapid credit reactivation.
Challenges in Housing Production
Other factors limiting mortgage dispersion include high housing prices, economic slowdown, and household income levels in Mexico.
Palafox pointed out that a few years ago, banks provided loans for about 70% of the property value, but now that percentage approaches 85%. This phenomenon confirms that the rise in housing prices puts pressure on homebuyers’ purchasing power.
On the other hand, SOC’s broker channel placed credits with an average ticket of 2.6 million pesos in 2025, indicating increased activity in the acquisition of mid-to-high-end housing.
“Undoubtedly, affordable housing construction is key to consolidating the sector’s growth. For several years, there has been a need to boost social housing, which could help increase the number of mortgages,” Cybel Magaña noted.
Banking Sector’s Role in Housing Development
In this context, the banking sector aims to expand its participation in housing development.
Palafox highlighted the banking sector’s inclusion in the federal government’s Plan México through an agreement with ABM to accelerate financing for Micro, Small, and Medium Enterprises (MiPymes).
“We are considering including housing producers and construction chain providers. This would help provide more access to smaller builders who currently cannot participate due to costlier funding,” Palafox assured.
Key Questions and Answers
- What was the mortgage credit performance in Mexico for 2025? The mortgage credit sector in Mexico concluded 2025 with a restrained performance, marked by economic uncertainty related to tariffs and a less dynamic environment.
- What are the predictions for mortgage credit growth in 2026? Cybel Magaña, the National Credit Director at SOC Asesores, suggests that mortgage financing for home acquisition could grow between 2% and 3% in 2026.
- How do lower interest rates affect mortgage credit? Although the descent of interest rates does not guarantee a rapid credit reactivation, it reflects a more optimistic economic outlook moving forward.
- What challenges does the housing sector face? Other factors limiting mortgage dispersion include high housing prices, economic slowdown, and household income levels in Mexico.
- What role does the banking sector play in housing development? The banking sector aims to expand its participation in housing development through initiatives like Plan México, which seeks to accelerate financing for Micro, Small, and Medium Enterprises (MiPymes).
