The volume of early repayment of mortgages in Russia fell to an almost three-year low

In the nine months of 2022, Russians closed mortgage loans for 1.07 trillion rubles ahead of schedule. The volume of early mortgage repayments decreased by 25.6% compared to the same period in 2021 and by 4.2% compared to 2020. This was reported RBC with reference to the data of the Central Bank. Mortgage prepayment activity has returned to 2019 levels. Then for January-September the figure was 708 billion, for the whole of 2019 – 1.05 trillion rubles.

According to RBC, the decline in the volume of early mortgage repayment occurred in the second quarter of 2022 (April-June). At that time, borrowers closed loans for 282.9 billion rubles ahead of schedule, which is 43.7% less than in 2021. In the third quarter (July-September), the volume of payments amounted to 342 billion against 476.7 billion rubles. for the same period in 2021.

Experts interviewed by RBC noted that the reduction in early repayment was influenced by the worsening economic situation in the country and the increase in the level of uncertainty. In their opinion, in the future, a significant increase in early mortgage repayment should not be expected.

Earlier, Kommersant wrote that prices for new buildings are declining due to the fact that about half of the supply in them is exhibited at a discount of up to 10%. Fears about the completion of the preferential mortgage program began to warm up demand, but this does not yet affect prices for them – they are held back by the growing volume of supply.

More details – in the material “Kommersant” “Discounts have been registered in new buildings”.

Olesya Pavlenko