(Reuters) – Applications for home mortgages jumped to the highest level in three months last week, buoyed by improvements in the job market, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 15.5 percent in the [...]
Mexico City – Mexico’s economy expanded more than expected in August while the country’s finance minister said a strengthening peso was not hurting exports. The economy grew 0.58 percent in August from July and 7.25 percent from a year earlier, the national statistics agency said on Wednesday. Analysts had forecast growth in the IGAE reading, [...]
July 13 (Bloomberg) — Consorcio ARA SAB Chairman German Ahumada Russek says the 2009 recession caused revenue at the Mexican homebuilder to stall. As the economy improves this year, he expects total sales will increase 10 percent. “There’s practically no inventory in Mexico City,” said Russek, chairman of the country’s third-largest homebuilder by market value, [...]
There’s a lengthy article in BusinessWeek about just how much money foreign investors are pumping into building factories in Mexico. It’s nice to see that companies are looking beyond the recent media-hyped violence reports and realizing what a good value it is to build and manufactuer in Mexico. It also shows considerable faith that Mexico [...]
From the incomparable MexFiles Blog, written by author and historian Richard Grabman, I found this positive tidbit of news on why Mexico isn’t facing the same mortgage crisis as the United States. What I liked about this article was the emphasis on how a home is basic human right and that Mexicans look at their [...]
Mexico Interest Rates Remain the Same While US Mortgage Rates Fall By Terence Reilly, MEXLend Mortgages (originally published in the Vallarta Tribune, March 2009) As interest rates in the US decline, many people are curious as to why the rates for mortgages in Mexico remain the unchanged. The short answer is that the United States [...]
According to US Today, travel trends indicate that Mexico is going to be one hot property this year for travelers. As the dollar gets tighter and the exchange rates plummet in Mexico, more and more people will be heading to places like Cancun, Cabo and Puerto Vallarta. This is good news for those who have [...]
There’s a reason why so many people purchase second homes in Mexico; the weather! Winter is the best time in Mexico with warm days and cool nights. There’s nothing like sunbathing and swimming in December! In this recent article, it outlines that airfares have been dropping by an average of $53 per ticket and are [...]
Here’s an article from MarketWatch about the current state of the home market in Mexico. Author and Mexico investment expert Tom Kelly notes that investments in fly-in locations such as Puerto Vallarta, Mazatlan and La Paz are still appreciating by 8-12% annually. With mortgages available for most properties in Mexico, it’s still a possibility to [...]
This morning the peso dropped again now that four Mexico banks (all subsideraries of foreign banking institutions) were labeled at Negative instead of Stable. This makes it even more important to select a mortgage broker that works with a wide variety of lenders and not just one or two. Fitch ratings story on Reuters: http://www.reuters.com/article/marketsNews/idUSN1047004120081110
