Recently, the early repayment rates of housing loans in the Russian housing loan market have decreased. In addition, the standards for issuing mortgages have deteriorated, these factors together can signal a crisis in the financial situation of citizens, opens The words of Elvira Nabiullina TASS, the head of the Central Bank (CBRT).
“We are seeing a deterioration in mortgage lending standards. Thus, the share of low down payment loans increased from 48% in the previous quarter to 53% in the fourth quarter of 2022. Early payment rates have been reduced. “These facts may indicate that the financial situation of borrowers is deteriorating,” Nabiullina said at the annual meeting of the Central Bank of Russia and credit institutions.
He also added that the Central Bank leadership will take all necessary measures to stabilize the situation in the Russian mortgage market. It is important that the currency regulator prevents the share of “risky” housing loans from growing.
February 16 Central Bank (MB) Governor Elvira Nabiullina stated about the need to stimulate the growth of mortgage loans and increase the pace of construction of new housing in small towns and settlements in Russia. To do this, you need to develop appropriate programs.