Russia’s mortgage lending soars 81% in January–March
MOSCOW, Apr 28 (PRIME) -- Russian banks’ mortgages soared 81% on the year to 582 billion rubles in January–March, DOM.RF, previously known as the Agency for Housing Mortgage Lending, said in a statement on Saturday quoting data of the central bank.
In physical terms, the mortgage loans jumped 68% to 299,400 credits, the agency said.
The agency expects Russian banks to issue 1.4 million mortgage loans totaling 2.5–2.8 trillion rubles in 2018.
The weighted average mortgage rate shrank 2.07 percentage points on the year to 9.73% in the period. In March, the weighted average rate dropped 2.04 percentage points to 9.64%.
(62.7260 rubles – U.S. $1)