El Salvador’s Minister of Housing, Michelle Sol, announced that October saw the lowest mortgage delinquency rate of the year within the Social Housing Fund (FSV), with a rate of 1.99%. “This indicator sends several messages. First, it shows that families prioritize their housing payments each month, and that social interest projects are in high demand, offering quick returns for investors,” the minister remarked.

According to official data, delinquency rates have consistently remained below 2.33% over the first 10 months of 2024. January began with a rate of 2.20%, February followed at 2.17%, while the highest rate occurred in March at 2.33%. Rates continued to trend downward, with April reporting 2.16%, May at 2.18%, and October achieving the year’s low at 1.99%.

In addition to the promising delinquency rates, the FSV reported significant financial achievements. By the end of October, the fund had issued $141.5 million in loans, benefiting 5,688 families with accessible interest rates and favorable payment terms. Further, the ministry closed the sales and deeds on 571 homes by October, representing a total investment of $15 million.

“Our commitment remains with low-income families. Now, with the security we enjoy, we can invest long-term and dream of owning a home,” Minister Sol stated via the platform X.

The minister also highlighted the accomplishments of President Nayib Bukele’s administration, noting that since 2019, the FSV has granted over $843 million in housing loans, impacting 38,996 families and benefiting 163,783 Salvadorans. Loan allocations included 9,591 new home loans worth over $340 million, 20,685 used home loans totaling $389.1 million, and $113.8 million invested in extraordinary assets.