According to the information of the Russian Housing Mortgage Lending Agency, the total volume of the lent mortgage credits grew almost by 30% for the 12 months of 2016 and totaled 1.475 trn roubles ($24.6bln). About 860,000 families have improved their living conditions.
According to the company’s analysts, the mortgage loan market have overcome the consequences of the crisis and will start growing in the beginning of 2017. The volume of mortgage lending in 2017 is expected to reach the record-breaking 1.8 trn roubles (about $30bln), and the mortgage loan rates are forecast to go down to 11% and lower, as the main tendency of 2016 was the rates decrease as they reached the level of 2014.
