Pena Nieto Announces Mexican Home Loan Boost Maurilio Soto and Victor Mayen - The News
go to original March 11, 2014

Premio Nacional de Vivienda: El Presidente Enrique Peña Nieto anunció que para dar continuidad a la Política Nacional de Vivienda y brindar plena certeza a los distintos actores del sector, "las reglas vigentes en 2014 seguirán siendo las mismas durante toda la Administración. En ello tienen el compromiso del Presidente de la República, para que estas reglas se mantengan hasta 2018". (Gobierno de la República)

MEXICO CITY – President Enrique Peña Nieto has promised that 2014 will be “the year of reactivation for the housing sector.”

In a press conference given from the presidential residence of Los Pinos, Peña Nieto said that the housing sector is strategic to the country’s development, and that institutions such as the National Housing Fund Institute (Infonavit), the Housing Fund for Socail Security and Services for Government Employees (Fovissste), National Peoples Housing Fund (Fonapo), the Federal Mortgage Society and the National Housing Commission (Conavi) will boost lending to more than 300 billion pesos ($23 billion).

“The investments destined for individual mortgage credits will increase by 255 billion pesos, an amount 18 percent higher than 2013,” Peña Nieto said, adding that the federal government will increase its contribution from eight to 12 billion pesos.

He also said that new mortgage finance programs and instruments will be created to promote more Infonavit-Fovissste co-financing for the acquisition of medium and residential properties, access to a second mortgage and home-improvement loans. These loans are extended to first-home buyers in Mexico.

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