In brief
Itaú and SantanderSantander BrasilOrganizationFifth largest bank in Brazil by assets, controlled by Spain's Banco Santander and listed on B3 as SANB11, target of a parent exchange offer for the roughly 10% still outstanding.Open in the Market Map ↗ raised mortgage rates.
They followed Bradesco.
What we know
04Verified fact · material
Itaú and SantanderSantander BrasilOrganizationFifth largest bank in Brazil by assets, controlled by Spain's Banco Santander and listed on B3 as SANB11, target of a parent exchange offer for the roughly 10% still outstanding.Open in the Market Map ↗ raised mortgage rates between October 29 and 30, 2026.
Increase.
Verified fact
According to InfoMoney, Itaú minimum rate went from 11.99% to 12.95% a year plus TR.
Itaú.
Sources[01]Verified fact
According to InfoMoney, SantanderSantander BrasilOrganizationFifth largest bank in Brazil by assets, controlled by Spain's Banco Santander and listed on B3 as SANB11, target of a parent exchange offer for the roughly 10% still outstanding.Open in the Market Map ↗ minimum rate went from 11.69% to 12.49% a year plus TR.
SantanderSantander BrasilOrganizationFifth largest bank in Brazil by assets, controlled by Spain's Banco Santander and listed on B3 as SANB11, target of a parent exchange offer for the roughly 10% still outstanding.Open in the Market Map ↗.
Sources[01]
Transmission to assets
Market read-through
Fast pass-through of the rate shock to credit weighs on homebuilders.
Portfolio impact
01Costlier credit cuts sales.
Rates fall.
What would change the view: Rates stay high.
Direction is an explanatory hypothesis, not a forecast or recommendation.
Next signals
What to watch
- Caixa and state banks
- Home sales
Limits of the reporting
What remains uncertain
- Per-bank rates appear in only one source.