Mortgage in Russian Federation in September 2013
Russian Economic Developments. 2013, #11, pp. 26-29
4 Pages Posted: 25 Nov 2013
Date Written: November 25, 2013
According to the data of the Central Bank of the Russian Federation, in January-August 2013 Rb 784,924bn worth of mortgage housing loans were extended which figure exceeds 1.28 times over the volume of lending in the respective period of 2012. As of September 1, 2013, the outstanding debt of Rb 2.4 trillion exceeded by 34.76% the debt as of September 1, 2012. A positive trend of both reduction of the share of the overdue debt on MHL in rubles in the outstanding debt (1.77% as of September 1, 2013) and growth in the volume and share of the debt on MHL without overdue payments (96.45% as of September 1, 2013) in the total debt prevails. In August 2013, the monthly average rate on MHL in rubles fell by 0.1 p.p. and amounted to 12.4% against 12.9% as of April 1, 2013.
Keywords: Russian economy, real estate market, mortgage policy
JEL Classification: G21, K11, L74, L85, R14, R21, R31, R52
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