Homeowners in Mexico are taking advantage of record low mortgage rates that have spurred refinancing. After the collapse of the country’s three biggest home builders last year stalled new construction and slowed lending, banks including BBVA Bancomer and HSBC Holdings have turned to refinancing for growth. That could provide a jolt to Mexico’s sluggish economy by giving consumers more money to spend.
"The impact that this has on the economy is that it frees up a part of people’s income to be spent on consumption, which we see spiking upwards in the coming months," said Carlos Capistran . . .
