The Volume of Mortgage Lending in Russia in May Grew by 8%
"In May, the volume of mortgage lending in Russia reached 205 billion rubles, which is 8% more than in May 2019. For the month, banks issued 87 thousand loans (+1.4% compared to May last year)", the statement said. Press Service DOM.RF. It is clarified that the driver of growth in issuance in May 2020 was the program of preferential mortgages for new buildings at 6.5% per annum, launched in late April. At the end of the month, it accounted for about 20% of all loans issued.
According to DOM.RF monitoring data, as of June 5, the weighted average offer rate of the top 15 mortgage banks on loans in the primary market reached 8.5%, in the secondary - 8.7%. The company notes that these are the minimum levels for several years.