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Mortgages Decline
September 5, 2015 18:07


(Source: http://novosti44.ru/novosti/kriminal)

 Russian banks reduced the volumes of the mortgages issued by about 40 percent down to the amount of 557.5 billion roubles in January-July 2015. This was reported by RIA “Novosti” with the reference to the data of HMLA.

The average amount of a rouble credit amounted to 1.64 million roubles, which is 6 percent less than in last year. The decline in the volume of mortgages was 39 percent in July, as compared to the same month in 2014. The average interest rate on loans equaled 13.4 percent.

About 78,000 mortgages for more than 136.5 billion roubles, or over 40 percent of the loans issued for the same period, were issued in April-July 2015 within the framework of the state program of subsidizing interest rates on mortgage loans for the purchase of new housing. In May and July the share of loans issued under the program reached 45 percent. The volume of mortgage loans with payments overdue by 90 days or more reached its maximum level -- 101 billion roubles - for the entire observation period (from January 2009) on August 1, which makes up 2.8 percent of all mortgage loans.

On March 27 the Director of the Department of Financial Stability of the Central Bank Sergei Moiseev said that the volume of mortgage loans would fall down to 50 percent in 2015 and would then grow by 10 in 2016. On March13  the Prime Minister Dmitry Medvedev signed a decree on the allocation of 20 billion roubles to banks. The money will be used to subsidize interest rates on housing loans. The total amount of loans to be issued with the state support is estimated at 400 billion.


Sources: http://lenta.ru 


Author: Anna Dorozhkina

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