ITADO: The interest rate reduction has boosted the dynamism of mortgage loans

Santo Domingo. – The Dominican Institute of Appraisers (ITADO) assures that the reduction in the interest rate has boosted the dynamism of mortgage loans in the Dominican Republic. The average active rate in multiple banks for mortgage loans adjusted from 12.14% to 11.93%, while in the associations the reduction was from 14.37% to 12.96%. “This decrease has significantly stimulated mortgage credit, making it one of the most dynamic segments of the Dominican financial system, indicated Fernando Ramírez,” president of ITADO. The growth of mortgage financing has generated an increase in the demand for real estate appraisals, strengthening the appraiser’s participation as a key element in the stability of the national financial system.

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“Today we reiterate that the appraisal is not just a banking requirement: it is a fundamental technical support of the financial system, a guarantee of transparency and a patrimonial protection for Dominican families,” emphasized Ramírez. Ibero-American Certification of Valuation Experts The ITADO is part of the Ibero-American Certification Process for Valuation Experts (CIEVA), promoted by the Pan American Union of Valuation Associations (UPAV), strengthening the credibility and international recognition of the Dominican appraiser. This certification offers four mentions: urban land and buildings, agriculture and environmental assessment, machinery and equipment, and companies and intangibles. A total of 40 appraisers participated in the diploma course given by the National Office of Seismic Evaluation and Vulnerability of Infrastructure and Buildings (ONESVIE), on evaluations of the seismic vulnerability of buildings, infrastructure and vital lines. The appraisers presented the second edition of the Construction Costs, which includes more than 15 construction typologies, updated according to the increase in construction material prices and adjustments to the dollar rate. Also The Dominican Institute of Appraisers is the only organization of appraisal professionals that trains, groups, and represents valuation professionals in our country. It was founded on February 27, 1975, and incorporated under Decree No. 1413 of the Executive Branch.