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Mortgage Rates In Russia Fell to the Historic Low Level
August 24, 2017 16:55


Mortgage rates in Russia fell to the historic low level, according to the Central Bank website.

The average weighted rate on housing loans fell to 11.11 percent per annum in June. In the first half of 2017 banks issued 423.5 thousand mortgage housing loans worth 773 billion roubles. 84.9 thousand loans in the amount of 157.6 billion roubles were granted in June.

Against the backdrop of the continuing decline in interest rates, the volume of rouble loans granted in June increased by 9.1 percent, as compared to the same period of last year. In general, the portfolio of mortgage housing loans increased by 11.6 percent, as compared to the same period of last year and amounted to 4.67 trillion roubles as of July 1, 2017.

In mid-July the Russian Minister of Economic Development Maksim Oreshkin predicted that the rates for housing loans in Russia might drop to 8-9 percent in 2018.


Author: Anna Dorozhkina


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