RIO DE JANEIRO, BRAZIL - The Caixa Econômica Federal announced yesterday, February 20th, the introduction of a new fixed rate housing credit line. Contracts can begin starting today, February 21st, with interest rates ranging from eight to 9.75 percent per annum, depending on the financing period and the customer's relationship with the bank.
"We will allow people to take out loans for 20 or 30 years, knowing from day one how much they will pay," said Pedro Guimarães, the president of Caixa, during a ceremony to release the new credit line at the Planalto Palace.
These conditions . . .