Responding to a question from a socialbites.ca reporter, Rosbank personal loan business department manager Denis Kovalev said that everything is fine in the Russian mortgage market, we do not see overheating.
“Payment delays are below 0.5 percent. This is too little. Everything is fine with the mortgage, there are no problems there. The only problem at the moment is with the rate level and demand, which are really limited,” the expert said.
Kovalev noted that over the past few years, including from the Central Bank of Russia, we have heard that the mortgage market in the Russian Federation is overheating. The official added that sometimes the question arises from where the regulator gets the data.
Central Bank Governor Elvira Nabiullina in September aforementionedIt is stated that the Central Bank sees signs of overheating in the mortgage market in the country. The main signals are the rapid increase in mortgages and the persistent gap in prices of new and secondary homes.
After that in the State Duma statedthat the overheating of the mortgage market in the country was provoked by the actions of the Bank of Russia itself.
Formerly Central Bank registered Russia’s markets for goods and services continue to overheat.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.