Housing Mortgage in the Russian Federation in Q2 2015
Russian Economic Developments. Moscow, 2016, pp. 39-40
2 Pages Posted: 26 Sep 2015
Date Written: September 24, 2015
In Q2 2015, housing mortgage loans (HML) totaling to Rb 242.53bn were originated which was 44.23% lower than the same index for Q2 2014. The volume of residual debt on HML as of 1 July 2015 constituted Rb 3.608 trillion. The share the ruble stale debt on HML in the residual debt came to 0.98% as of 1 July 2015 against 0.92% as of 1 April 2015. As of 1 July 2015, the share of debt on default HML with past-due payments of 180 days and more went up to 2.08% of the total debt amount. The weighted average interest rate on ruble-denominated HML issued in June 2015 constituted 13.29% and the weighted average interest rate for half year – 14.4%. In the course of Q2 2015, in the framework of the state program of subsidizing interest rates of the residential mortgage loans extended for purchasing accommodation in the new housing construction sector (interest rate not more than 12%) a total number of 52 thousand loans were originated totaling to Rb 90bn which constitute 38% of the total HML amount originated over this period.
Keywords: Russian economy, raeal estate, mortgage-baked securities
JEL Classification: G21, K11, L74, L85, R14, R21 , R31, R52
Suggested Citation: Suggested Citation