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Brazil recession likely to fuel higher mortgage defaults: Moody's

Dominant state-owned lender Caixa also faces higher financing costs

Brasília

BRAZILIAN banks will write fewer mortgages this year as delinquency rates climb amid the country's worst recession in more than a century, according to Moody's Investors Service.

State-owned lender Caixa Economica Federal, which issues almost three-fourths of housing loans