Mexico’s Housing Refinance Boom Seen Lifting Spending
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When Arturo Sosa, who lives in the Polanco neighborhood of Mexico City, refinanced his mortgage this year, he decided to spend some of the money he saved.
“I took a weekend trip to Vegas,” said Sosa, who lowered his payment by about 4,000 pesos ($300) a month since refinancing with Banco Santander SA in April. “The rest I’m saving for the soon-to-be-born baby.”