Central Bank: the average mortgage rate in Russia rose to 8.05%
As a result of February, the average mortgage rate in Russia increased by 0.19 percentage points compared to January and amounted to 8.05 percent per annum. The fact that housing loans have risen in price in the country is reported in report Central Bank (CB).
Since the beginning of 2023, the indicator has increased by 1.4 p.p. Such dynamics is associated, among other things, with the curtailment of mortgage programs at near-zero rates from developers after the restrictions imposed by the Central Bank.
Rates on loans for the purchase of housing under construction rose from 4.82 percent in January to 5.21 percent in February. The secondary market also saw an increase in the average rate: in the first month of the year it was 9.91 percent, in the second – 10.1 percent.
Earlier, the Central Bank reported an increase in outstanding debt on housing loans in Russia. In February, the figure increased to 57.2 billion rubles against 56.3 billion rubles a month earlier. The mortgage lending portfolio for the first time exceeded 14 trillion rubles – by the second month of 2023 it grew by 1.5 percent, to 14.13 trillion rubles.
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