Average interest rate on housing mortgage loans in rubles drops to 2-year low in October
29 November 2019
News
Interest rates in the housing mortgage lending market continued to fall in October 2019. The weighted average interest rate on housing mortgage loans (HML) issued in rubles decreased to 9.40% vs 9.68% in September. This is the lowest reading in the last 2 years.
October 2019 also saw the highest growth of the HML market since the beginning of the year. Banks issued 119,000 HMLs for the total amount of 271.3 billion rubles (13.4% and 11.1% more than in September respectively).
As of 1 November 2019, the aggregate debt on ruble- and foreign currency-denominated HMLs grew to 7.47 trillion rubles (including credit claims acquired by credit institutions).
Preview photo: Kirill Kukhmar / TASS