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prima:Nearly 78% of homes in Puerto Rico are paid off

An analysis commissioned by the Banking Association and highlighting the contributions of commercial banks on the island reveals a drop of almost 9% in the origination of financing for home purchases

October 2, 2024 - 11:38 AM

According to Xavier Diví, an executive of the consulting firm V2A, the increase in interest rates by the Federal Reserve contributed to the decline in mortgage lending in Puerto Rico. (Xavier Araújo)

San Juan - Of a total of approximately 1.5 million housing units in Puerto Rico, only 331,101 properties (22.07%) have an active mortgage, according to an analysis by the consulting and analysis firm V2A Consulting, commissioned by the Puerto Rico Bankers Association (ABPR).

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