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Brazil mortgages skyrocket 70% in September, breaking record

SAO PAULO, Oct 27 (Reuters) - Mortgage loans with resources from the Brazilian Savings and Loan System (SBPE) reached 12.9 billion reais ($2.29 billion) in September, up 70.1% over the same period in 2019, reaching a record, mortgage lender association Abecip reported on Tuesday.

From January to September, loans from the system to finance the purchase and construction of real estate advanced 44% versus the same period a year earlier, to 78.8 billion reais, already exceeding the result of all of last year. ($1 = 5.6240 reais) (Editing by Gabriel Stargardter; editing by Jonathan Oatis)

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