Portfolios of housing and mortgage loans are growing very quickly in Russia

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Portfolios of housing and mortgage loans are growing very quickly in Russia
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The volume of ruble-denominated mortgage loans as of March 1st 2015 increased by 31% to 3.42 trillion rubles, compared to the same period in 2014.




This is revealed in material published on the website of the Central Bank of the Russian Federation. Compared with January 1st 2015 (3.383 trillion rubles), arrears of mortgage loans in rubles increased by 1.1%. In this case, arrears on mortgage loans on 1st March 2015 amounted to 30.162 billion rubles. This is 17% more than March 1st 2014 and 4% more than January 1st 2015.
The volume of weighted interest rates on loans issued since the beginning of the year is 14.45% per annum and those issued during the month is 14.71% per annum. In early 2015, the figure was 12.45% per annum for loans issued since the beginning of 2014 and 13.16% per annum for loans issued in December 2014. The volume of ruble-denominated housing loans on March 1st 2015 increased, compared to the same period in 2014, by 30% - up to 3.546 trillion rubles.
Compared to January 1st, the volume of mortgage loans in rubles increased by 1.1%. In this case, arrears on the mortgages as of March 1st totaled 33.375 billion rubles. This is 18% more than the amount on March 1st 2014 (28.41 billion rubles) and a 4% increase compared with 1st January 2015 (32.131 billion rubles).
The weighted average interest rate on mortgages issued since the beginning of the year was, on March 1st, 14.46% per annum and on those issued during the month, 14.73% per annum. In early 2015, the figure was 12.47% per annum for loans issued since the beginning of 2014, and 13.15% per annum for loans issued during December 2014.



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