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Fitch: Savings Withdrawals May Push Brazil House Prices Down

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NEW YORK & SAO PAULO--(BUSINESS WIRE)--A drop in mortgage funding will likely accelerate real house price declines in Brazil's main metropolitan markets, Fitch Ratings says. So far this year, a record net outflow of savings deposits is depleting Brazil's supply of its cheapest mortgage funding source and forcing banks to restrict lending and increase mortgage rates. Recent measures by the central bank to reduce reserve requirements for savings deposits and increase their availability for mortga

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