Weighted average interest rate on housing mortgage loans in rubles continued to drop in September

Interest rates in housing mortgage lending continued to decline in September 2019. The weighted average interest rate on housing mortgage loans (HML) issued in rubles decreased to 9.68%, which is close to the level recorded at the beginning of the year. In August, the interest rate in this market was 9.91%

The upward trend in lending amounts also remained in September: banks issued 107 thousand HMLs totalling 239.2 billion rubles, which is 1.3% more than in August.

As of 1 October 2019, debt on HMLs, including claims acquired by credit institutions, amounted to 7.4 trillion rubles, having increased by 107 billion rubles over the previous month. The share of overdue debt on HMLs remained the same – 1% of the overall debt.