No menu items!

Brazil’s Bank Santander suddenly raises mortgage rate to 7.99% per year

RIO DE JANEIRO, BRAZIL - Without much fanfare, Bank Santander Brazil (SANB11) increased its interest rate for real estate financing. The news appeared on the website on Tuesday (13) and shows that the interest rate has increased to 7.99% p.a. from 6.99% p.a. plus the Referential Rate (TR), which is currently set at zero.

The rise makes the bank the first to raise property loan rates after the Monetary Policy Committee (Copom) recently announced a string of three consecutive increases in the Selic benchmark rate, which rose from 2% p.a. in March to 4.25% p . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?

Check out our other content