The average mortgage loan in Russia began to grow again: in may, it increased by 2.9% compared with a decline of 8.2% in April, according to a study by the National Bureau of credit histories (nbki), which is available to RIA Novosti.
As a result, at the end of last month the average size mortgage loan in the country has increased to 2.47 million RUB from 2.4 million in April. However, it is still below the March figure of 5%. If compared with the same period last year, in may 2020, he actually remained unchanged, an increase of only 1.2%.
By the end of the year, average mortgage rates could fall to a historic low.
According to analysts, banks will be able to offer borrowers a mortgage with a rate below seven percent per annum.
The program of preferential mortgage in rural Russia in 2020 will receive 2 billion rubles, therefore, its funding this year will triple, said the Vice-Premier of Victoria Abramchenko.
"The practice of the first months of preferential agricultural mortgage demonstrated that the program - the demand from citizens is several times higher than the annual plan of granting such concessional loans. Therefore, the amount of financing of the project will be increased three times - "Rural mortgage" will allocate 2 billion rubles," - said Abramchenko, quoted by the press service of Deputy Prime Minister.
Russian banks on the background of the easing of the restrictive measures imposed because of the pandemic coronavirus, have begun to reduce rates on mortgages, the survey of credit institutions RIA Novosti.
Alfa-Bank decreased by 0.4 percentage points rate for a mortgage loan to buy housing on the secondary market and for mortgage refinancing. "The easing of quarantine measures has led many Russians to think about how to properly manage your expenses. Mortgage refinancing will help to save on monthly payments: reduce the amount of the overpayment or to reduce the term of the loan," - said the head of mortgage crediting Department of the Bank Artem Ivanov.