The volume of mortgage loans in Russia in January-September 2012. increased compared to the same period last year by 1.5 times — up to 698.6 billion rubles. This is stated in the report of the Agency for Housing Mortgage Lending (HMLA). The number of loans for the 9 months of this year totaled 475 thousand 823 pieces, which is 1.4 times the data of January-September 2011.
According to the HMLA, the analysis of the dynamics of monthly mortgage lending shows the beginning of a slowdown in the market — in September 2012. issued 87 billion of mortgage loans, which is 25% higher than in September 2011. Previously, the growth rate hovering around 50 per cent mark.
Slowing market growth is largely due to the continuing growth rates — in September, as in August, the rate of issuance of mortgage loans was 12.3%, up 0.4 percentage points above the level of September 2011. The weighted average interest rate on mortgage loans issued since the beginning of the year was 12.2%. HMLA predicts that by the end of the year, the weighted average rate of delivery does not increase by more than 12.5%.
In October, 2012. continued increase in interest rates on mortgage programs banks, which began in August 2012. due to increased cost of funding for banks. Thus, during this period, in addition to the Savings Bank, to raise rates a second time this year, the stakes have increased another 12 banks, including players such as Communication-bank "UniCredit" and "Revival".
The share of overdue payments in the total amount of mortgage debt accumulated on 1 October 2012. was 2.45%. The share of overdue payments on ruble debt was 1.5%, compared with a maximum of 2.8% at the end of 2010. Overdue payments on foreign currency debt was 14.9% and the volume of overdue payments of currency is 19.2 billion rubles., Accounting for 43.2% of the total amount of overdue payments, the share of foreign currency debt in the mortgage portfolio of banks only 7.1 %.
Recall that in January-August 2012. the volume of mortgage loans in Russia has increased over the same period last year by 1.5 times — up to 611.6 billion rubles.