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Growth of mortgage lending up to 1.4% in April after 1.2% rise in March — Bank of Russia

Meanwhile mortgage loan granting within state support programs rose by 7% in April, with their share in the total volume still standing at 75%, the regulator said

MOSCOW, May 28. /TASS/. Russia’s mortgage lending market grew by 1.4% in April, according to preliminary figures, after a 1.2% increase in March 2024, according to files released by the Central Bank.

"According to preliminary data, growth of mortgage [lending] sped up slightly to 1.4% after 1.2% in March, largely due to a decrease in the level of early payments as it may be more profitable for borrowers to place available funds on deposit accounts than to repay loans, especially at preferential rates," the Bank of Russia said.

Meanwhile mortgage loan granting within state support programs rose by 7% in April, with their share in the total volume still standing at 75%, the regulator added.