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In the second quarter of 2024, the total mortgage portfolio capital balance of the country’s housing finance entities was equivalent to US$131,216 billion, an increase of 1.7% from the first quarter of 2024. An increase of 9.1% over the same period last year.
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This was revealed in the recent report on residential mortgage portfolio released by the Office for National Statistics (Dane), which showed that in the second quarter of this year, Mortgage portfolio balances account for 78.6% of the housing loan portfolio 21.4% of the housing rental balance.
By housing solution, housing finance entities had a capital balance of $757.47 billion for new homes, $552.68 billion for existing homes, and $201 billion for unclassified homes, with quarterly changes of -2, 0, 7.4, and -34.9 percent, respectively. The annual change in the capital balance of newly built housing was 7.6%. 11.4% used, unclassified balance -17.3%
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Housing Loans
In the second quarter of 2024, the total capital balance of residential loans in the residential mortgage portfolio changed by 10.8% from the same quarter of 2023, when the capital balance was $93,010 billion, a year-over-year change of 11.6%.
In addition, the annual change in capital balance of VIS type houses was 20.7%, and the annual change in capital balance of non-VIS type houses was 4.9%.
On the other hand, when comparing the mortgage portfolio in the second quarter of 2024 with the same quarter in 2023, the following changes in total housing loan capital balances are observed: National Savings Fund 17.7% Among them, household compensation funds fell by 11.4% to US$742 billion; credit institutions fell by 10.5% to US$8867.2 billion; cooperatives, employee funds and housing funds -0.1% to US$288.4 billion; other portfolio collectors fell by 0.3% to US$379 billion.
“The total capital balance of housing loans against the current portfolio increased by 10.4 per cent and the past due portfolio changed by 20.5 per cent,” Apontan.
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Residential
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Overdue installment payment
In the second quarter of 2024, capital for one or more overdue installments changed by 5.6% compared to the same quarter of 2023. The corresponding annual change for VIS housing is 4.1%, Compared to the same quarter in 2023, non-VIS housing changed by 6.7%.
By financial entity, there were the following changes in capital for one or more overdue installments compared to the same quarter of 2023: Family compensation 37.9% 6 billion USD; credit institutions 10.9% with 854 billion USD; cooperatives, employee funds and housing funds 1.8% with 37 billion USD; state savings funds 1.0% with 340 billion USD; other portfolio collectors -1.0% and 375 billion USD.
Moreover, when comparing the second quarter of 2024 with the same quarter of 2023, the following changes can be observed: 53.4% are in arrears of 7 to 12 installments, 20% are in arrears of 5 to 6 installments, 13.1% are in arrears of 3 to 4 installments, 19.2% are in arrears of 1 to 2 installments, and 1.9% are in arrears of more than 12 installments.
Paula Galeano Balaguera
Portfolio Reporter
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