Peru mortgage credit hits 5-yr high; Mivivienda still 27% below 2022

Peruvian mortgage lending reached its highest level in five years over the past year, per CAPECO, indicating recovering housing demand. However, Mivivienda Fund-backed operations remain 27% below 2022-2023 levels, suggesting state-subsidized affordable housing has not kept pace with overall credit growth. This divergence points to uneven recovery in the housing finance market, with private credit leading while public program lags.