Agency: Russia’s mortgage loan provision rises 23% in March

MOSCOW, May 5 (PRIME) -- Russian banks’ mortgage issuance increased by 23% on the year to a record 147 billion rubles in March, the Agency for Housing Mortgage Lending (AIZhK) said in a statement on Friday.

The average interest rate on ruble-denominated mortgage loans fell 1.2 percentage points on the year to 11.68% in March. The average interest rate on loans secured by housing under construction decreased 0.4 percentage points to 11.3%.

The share of mortgage debt that is more than 90 days overdue contracted to 2.52% as of April 1, 2017 from 3.2% as of the same date of 2016.

(57.5714 rubles – U.S. $1)

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