Mortgage Lending in the Russian Federation in Q2 2014
Russian Economic Developments. Moscow, 2014, #9, pp. 36-39
3 Pages Posted: 23 Sep 2014
Date Written: September 23, 2014
Mortgage loans kept growing in Q2 2014. A total of Rb 434,8bn mortgage residential loans (MRLs) were extended in the period between April and June of the current year, up by 37.87% compared to the lending volume in Q2 2013, and a total of Rb 769,5 of MRLs were extended in the first half of the current year. The share of delinquent outstanding balance on ruble denominated MRLs in the remaining mortgage balance kept diminishing steadily (0.9% as of July 1, 2014 against 0.96% as of April 1, 2014), whereas the respective share of delinquent outstanding balance on foreign currency denominated MRLs kept growing (13.92% as of July 1, 2014 against 13.22% as of April 1, 2014). The share of outstanding balance on defaulted MRLs, with payments delinquent for more than 180 days, in the total outstanding balance diminished to 1.73% at the second quarter’s end. The weighted average rate on ruble denominated MRLs extended in June 2014 stood at 12.3% while the semiannual weighted average rate was 12.2%.
Keywords: Russian economy, mortgage
JEL Classification: G21, K11, L74, L85, R14, R21, R31, R52
Suggested Citation: Suggested Citation