B
razil's energy provider has announced that the city of São Paulo's week-long power outages have been resolved. However, warnings of new storms for the weekend are causing concern among residents that the problems may return.
In other news:
* Brazil's largest real estate lender is tightening its rules on access to credit.
* Caixa, a state-owned bank, will lower its maximum financing quota for middle-class families buying property from November onwards. The bank will now finance up to 70% of a property's cost (down from 80%) in its most common mortgage lending system.
This move is expected to force buyers to make larger down payments, potentially delaying millions of families' plans to buy a home. Additionally, Caixa will cap the amount it lends for properties priced above BRL 1.5 million (around USD 265,300).
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