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Mortgage lending growth in Russia accelerates to 0.9% in August from 0.7% in July

The regulator noted that the total volume of loans issued under all state mortgage programs increased by 6% in August to about 196 billion rubles ($2.1 bln)

MOSCOW, September 23. /TASS/. Mortgage lending growth in Russia slightly accelerated to 0.9% in August from 0.7% in July, the Bank of Russia reported.

"According to preliminary data, the growth rate of mortgages amounted to 0.9% and is generally comparable to July (0.7%). Issues increased slightly - to 375 billion ($4 bln) from 356 billion rubles ($3.8 bln) in July," the Bank of Russia said.

The regulator also noted that the total volume of loans issued under all state mortgage programs increased by 6% in August (to about 196 billion rubles ($2.1 bln) from about 185 billion rubles ($1.9 bln) in July), and the share of "Family Mortgage" increased to 90% from 40% in July.