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The size of the mortgage loan reached record values in Russia
The average size of a mortgage loan in Russia has grown to record levels. Its size exceeded three million rubles.
As the radio "Sputnik" with reference to the data of the credit bureau Equifax, in January this year the average check increased by 1,7%. Ros is associated with an increase in property prices. According to the director general of the bureau, Oleg Lagutkin, the average amount of a mortgage may increase up to 7% per year.
Previously, the Bank of Russia advocated termination of preferential mortgage under 6,5%. Otherwise, the mortgage will lose its socially oriented character.
Last spring, the Russian government launched a program to subsidize mortgage interest rates up to 6,5% as anti-crisis measures. Preferential mortgage program extended until 1 July 2021 year.
Last November, the Central Bank allowed reduced housing affordability for Russians in the coming years. This can happen despite the preferential mortgage rate.