Mortgage market in Russia continues to recover – Finance – Kommersant
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The volume of issued mortgage housing loans in July amounted to 341.6 billion rubles. Compared to the previous month, it grew by almost 35%. The number of loans issued increased by 40% to 91.6 thousand, according to materials Central Bank.
Compared with the dismal performance of April-May, the volume of loans issued has almost doubled. However, the market has not yet returned to last year’s figures. The volume of loans issued is 21.1% less than in July last year (433.1 billion rubles), the number – by 39.5% (151.4 thousand).
The weighted average rate increased to 6.67% in July against 6.36% a month earlier. The average mortgage term also increased and amounted to 274.8 months.
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