Mortgage in the Russian Federation in October 2015
Russian Economic Developments. Moscow, 2015, #12, pp. 72-75
4 Pages Posted: 24 Dec 2015
Date Written: December 23, 2015
Over three quarters of 2015, 461,232 mortgage loans (ML) totaling Rb 761.8bn were originated which is below the volume of loans extended for the corresponding period of 2014 in monetary terms down 38% and in numerical terms down 35%. As of 1 October 2015, the share of ruble ML in the volume of consumer credit came to 18.73% which is by 0.65 p.p. less than the corresponding share as of 1 October 2014. Outstanding debt on ruble ML in percent to the residual debt as of the same date has gone up by 0.17 p.p. to 1.02%. The weighted average interest rate across the Russian Federation on ruble mortgage loans originated in September 2015 came to 13.12% against the maximum indicator of 14.71% in February 2015.
Keywords: Russian economy, housing mortgage, housing loans, real estate market
JEL Classification: G21, K11, L74, L85, R14, R21 , R31, R52
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