Caixa Econômica Federal Studies Mortgage Rate Increase After Bradesco, Itaú and Santander Moves

Caixa Econômica Federal is calculating whether and when to raise mortgage interest rates, after Bradesco, Itaú and Santander increased theirs in late October. The state-owned bank holds about 70% of Brazil's housing finance market. Folha reported the review on November 13.

Caixa's Rate Review and Market Weight

Caixa is weighing how much of the higher funding cost it can absorb without hurting the profitability of its mortgage operations and the supply of credit. Marcos Brasiliano Rosa, the bank's vice-president of finance and controllership, said the decision belongs to the institution but requires caution because of its size. "Nós somos donos de 70% praticamente do sistema, então a gente controla muito," Rosa said at a press conference on the bank's quarterly results.

Rosa said Caixa is seeking a balance between the cost of money, the availability of funds and maintaining credit supply. The analysis covers not only savings account remuneration but also other funding sources such as real estate credit letters (LCIs). Net savings withdrawals totaled R$53.2 billion between January and September, according to Abecip.

Bradesco raised its minimum mortgage rate from 11.69% to 13.60% a year plus TR, Itaú from 11.99% to 12.95% plus TR, and Santander reached 12.49% plus TR. Caixa's average rate on SBPE-funded operations stands at 12.05% a year plus TR, according to the Central Bank.

Caixa's Mortgage Portfolio and Profit

Caixa's mortgage portfolio reached R$1.043 trillion in September, up 15.5% over 12 months, according to akta.pro company records. Contracts for home purchase and construction totaled R$210.1 billion from January to September, 20.9% more than a year earlier. The bank reported recurring net profit of R$3.5 billion in the third quarter, down 7.4% year-on-year, and total delinquency of 4.01% in September against 3.01% a year before.

Earlier Caixa Results and Housing Signals

Caixa reported third-quarter 2026 net profit of R$3.5 billion, down 7.4% year-on-year and 10.6% quarter-on-quarter, with its credit portfolio at R$1.482 trillion and defaults at 4.01% in September, pegn reported. In October, Caixa's vice-president of housing, Inês Magalhães, said the bank does not expect a short-term expansion of Minha Casa Minha Vida to cover families earning up to R$21,000 a month, Exame reported.

What Comes Next for Caixa

Caixa has not set a date for a rate decision. The bank will auction 569 properties across 23 states and the Federal District on November 24 and 30, Exame reported.