Mexico housing credit grows just 1.4% in real terms in September 2026

Mexican housing finance grew 1.4% in real terms in the year to September, against 5.7% for total private sector credit, Banco de Mexico reported.

The facts

Banco de Mexico, in the monetary aggregates release published on 30 October 2026, put housing finance from commercial banks at 1,588.4 billion pesos in September 2026, up +1.4% in real terms over the year.
The performing housing loan portfolio stood at 1,538.1 billion pesos, up 1.3% in real terms.
Total financing to the private sector reached 8,096.1 billion pesos, up 5.7% in real terms, and financing to companies 4,158.4 billion pesos, up 5.3%.
The M1 aggregate grew 4.3% in real terms to 8,816.9 billion pesos, and M4 grew 2.6% to 22,420.8 billion pesos.
The release states that the September 2026 figures are preliminary and subject to revision.

What it means for your money

Mexican mortgage credit is barely growing in real terms. A thin local lending market means a smaller buyer pool when you sell.
Glopra data for Mexico put the average price at 2,503 US dollars per square metre and the average rent at 14.05 US dollars per square metre a month, so the rental side has to carry the return while domestic mortgage credit stands still.
If you already own in Mexico, housing credit at 1.4% real growth against 5.7% for private credit as a whole says the lending is going to companies rather than to home buyers, which weighs on resale demand.

What to watch

Whether the gap between 1.4% for housing and 5.3% for companies narrows in the next monthly release.
These are real, inflation-adjusted growth rates for commercial bank lending, not for the whole financial system.
The numbers are provisional. The release says the September 2026 data are subject to revision.

Sources: Banco de Mexico https://www.banxico.org.mx/publicaciones-y-prensa/agregados-monetarios-y-actividad-financiera/%7BD9BD3848-9D6D-7BA4-BA7A-CBB6335439E9%7D.pdf

Market data: Guadalajara · Mexico · Mexico City · Los Cabos