Mortgage Disbursements Rise 22% in Q1 as Ecuador Housing Demand Indicators Improve
Ecuador's housing-credit market is showing stronger demand through the first quarter of 2026.
Credit Growth
Primicias reports that mortgage-credit disbursements grew 22% in the first quarter of 2026 compared with the same period of 2025, citing Banco Central del Ecuador data.
The rebound came from private-sector lenders. Primicias reports that mortgage placements by banks, mutual societies and private cooperatives also increased 22% in the first quarter of 2026.
BIESS Divergence
The Banco del Instituto Ecuatoriano de Seguridad Social (BIESS) moved in the opposite direction. Primicias reports that BIESS represents 60% of the housing-loan portfolio, but its mortgage disbursements fell 8% in the same period.
The article reports that BIESS's Credicasa program, launched on January 27, 2026, had disbursed USD 18 million and had 1,300 additional operations in process by the third week of May.
BIESS expects to place USD 600 million in mortgage credit during 2026, a 25% increase over the prior year, when it disbursed USD 479 million, according to Primicias.
Demand Indicators
| Indicator | Change |
|---|---|
| Mortgage disbursements, Q1 2026 vs Q1 2025 | +22% |
| Private lender mortgage placements | +22% |
| BIESS mortgage disbursements | -8% |
| Housing sales, Jan-Feb 2026 vs Jan-Feb 2025 | +12.5% |
| Project visits | +16% |
| Net reservations | +23% |
Primicias also reports that the Miti Miti preferential-rate program has USD 602 million in a trust for housing-project financing.
What to watch
- Whether BIESS reverses the first-quarter disbursement decline.
- Speed of Credicasa and Miti Miti placement against available funding.
- Inventory absorption in Quito, Guayaquil and secondary markets.
- Construction-sector liquidity from IVA refunds and mortgage origination.
Source: Primicias
Source
Primicias — "Colocación de hipotecarios crece 22% en Ecuador y reactiva el mercado de vivienda en 2026"
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