All news

Mortgage lending in Russia up 30.1% as of December 1 in annual terms, says regulator

The Bank of Russia will estimate the viability of taking additional steps of the macroprudential policy on mortgage loans in the first quarter of 2022

MOSCOW, December 25. /TASS/. Mortgage lending in Russia was up by 30.1% as of December 1 in annual terms, the Central Bank reported on Friday.

"In the segment of mortgage lending after the gradual stabilization of growth rates of indebtedness in July-October related to revision of the terms of the state program on interest rate subsidizing, the demand for loans was excessive in November, whereas indebtedness grew by 2.3%. In annual terms mortgage lending was up by 30.1% as of December 1, 2021. The Bank of Russia will estimate the viability of taking additional steps of the macroprudential policy on mortgage loans in the first quarter of 2022," the regulator said.

The viability of additional measures will be considered taking into account the data on the influence of its monetary policy on credit activity and on crediting standards for the current quarter, the Central Bank added.