The growth of the mortgage portfolio of the Russian Federation in February amounted to 0.7% after 0.6% in January, according to preliminary data, this comes from the informational and analytical bulletin: “On the development of the banking sector of the Russian Federation in February 2024” Russia by the Central Bank.
“This generally corresponds to our
The document states, “Expected market cooling: 7-12% in 2024.”
At the end of last month, mortgage loan issuance increased by 20% compared to January, from 272 billion rubles to 330 billion rubles. At the same time, the issuance of both concessional and market mortgages increased. During this period, the figures increased by 15% and 40% respectively.
The Central Bank announced that the decrease in January was explained by seasonality. The indicator in the first month of the year is traditionally lower due to long holidays. In addition, the mass tightening of “Preferential Mortgage” conditions from the end of 2023 could also have played a certain role: some borrowers had to reorient themselves to market programs.
Before that in Russia guess The increase in mortgage demand for individual housing constructions reached a record level.
Previously at the Central Bank spoke to complete the bulk preferential mortgage program.