The volume of issued mortgage loans increased by 35% in July
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The volume of issued mortgage loans (HML) in July 2022 increased by almost 35% compared to the previous month and reached 341 billion rubles, follows from the published statistics Central Bank of the Russian Federation (CB).
In July, Russian banks approved about 91.6 thousand mortgages, which is 40% more than a month earlier. The largest amount of mortgage lending granted this month was recorded in Moscow – 54.9 billion rubles, Moscow and Voronezh regions – 29.9 billion rubles. and 3.8 billion, respectively.
The average term for mortgage loans issued per month approached 23 years. The weighted average rate increased over the month by 0.31 percentage points, to 6.67% in July. As of August 1, 2022, the total volume of the mortgage portfolio in Russia reaches almost 12.7 trillion rubles.
It follows from the Central Bank’s report that 636.4 thousand mortgage loans worth 2.2 trillion rubles were issued in the seven months of this year.
In July, banks reduced the mortgage approval rate to 63.4%, against 66% a month earlier. At the same time, according to the Scoring Bureau, the take rate (conversion rate of approved applications) increased from 16% to 19.2%. Market participants note that the volume of incoming loan applications is growing, in contrast to the solvency of customers.
Read more about the pace of loan approval – in the material “Kommersant” “Mortgages lack quality.”
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