In Russia, it is necessary to normalize the growth rate of mortgage lending. The Central Bank intends to discuss with market participants the possibility of tightening the issuance of housing loans, said the head of the regulator Elvira Nabiullina during an online conference following the meeting of the Central Bank’s board of directors. RIA News…
As noted by Nabiullina, the Central Bank recorded some signs of overheating in the mortgage market, and there is also a decrease in the quality of housing loans. The specific measures that the regulator wants to take to cool the market have not been named.
On April 23, the Central Bank raised its key rate by 0.5 percentage points. Real estate market experts believe that this will lead to an increase in mortgage rates. At the same time, the conditions for deposits for the population will become more favorable, and the investment attractiveness of the housing under construction and secondary housing, on the contrary, will decrease.
Earlier, the category of Russians with the minimum chances of a mortgage was determined – according to experts of the lending market, housing loans practically do not give to the self-employed. Excessive exactingness in relation to the self-employed is explained by “the subjective perception of banking organizations due to the lack of experience in working with such borrowers,” the experts explained.
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