Mortgage in the Russian Federation in January-May 2015

Russian Economic Developments. Moscow, 2015, pp. 34-36

3 Pages Posted: 13 Sep 2015

See all articles by Georgy Zadonsky

Georgy Zadonsky

Gaidar Institute for Economic Policy

Date Written: September 12, 2015

Abstract

Within the first five months of 2015, a decrease in the volume of mortgage housing lending (MHL) as compared to the respective period of 2014 amounted to 38.34% and 40.96% in quantitative and monetary terms, respectively. Within the above period, Rb 372,754bn worth of 228,230 MHL was extended. As of 1 June 2015, the outstanding debt on MHL rose by 20.51% as compared to 1 June 2014 and amounted to Rb 3,586 trillion. In 2015 the share of the overdue debt in the outstanding debt rose as of 1 June to 0.96% and 15.63% as regards MHL in rubles and foreign currency, respectively. The weighted average rate on MHL in rubles extended within a month amounted to 13.46% in May 2015 having fallen by 1.25 p.p. as compared to the maximum value in February 2015. In 2015 the total number of MHL in foreign currency amounted to 43 loans.

Keywords: Russian economy, housing mortgage market, mortgage loans, mortgage-backed securities, interest rates on mortgage loans

JEL Classification: G21, K11, L74, L85, R14, R21, R31, R52

Suggested Citation

Zadonsky, Georgy, Mortgage in the Russian Federation in January-May 2015 (September 12, 2015). Russian Economic Developments. Moscow, 2015, pp. 34-36, Available at SSRN: https://ssrn.com/abstract=2659498 or http://dx.doi.org/10.2139/ssrn.2659498

Georgy Zadonsky (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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