www.mimejortasa.cl’s May 2021 monthly newsletter reported that mortgage credit rates showed a second-month hike this year in the four years it tracks, reaffirming the break point recorded in April, and nullating the entire fall during the first quarter of this year.
Thus, in each of the financial years, the final cost of mortgage loans in May ended up being higher than the same in December 2020, and are on average 74 basis points higher than the minimum recorded in October 2019, just before the social outburst.
Moreover, in the credit years that www.mimejortasa.cl tracks, the report shows that the difference between the most expensive and cheapest banks can exceed $27 million in excess payment over the entire credit period (UF credit 6,000, 20% standing, to 25 years). This means that for the bank that is last in the ranking to have the same final cost as the Top 1, the top 1 bank should return $17,981,990 immediately to the customer.
In April, Banco Santander ranked No. 1 in two simulated years and Consorcio ranks No. 1 in the remaining two financial years. For its part, Falabella bank and Security are the most expensive in simulated exercises.
