By mid-2024, analysts anticipate a notable uptick in mortgage rejections among Russians, with the share climbing roughly 25 to 30 percentage points to a range of 81 to 86 percent, before easing to around 56 percent by year-end. This projection reflects a period when banks tighten lending criteria and adopt a more cautious stance, a pattern echoed by financial experts examining housing finance in 2024. In commentary to socialbites.ca, an economist specializing in economics and public administration described the shift as a deliberate effort by lenders to curb risk and gradually rebuild stronger, more resilient loan portfolios. The goal is not merely to reject more applications, but to recalibrate credit risk so that future origination remains sustainable even in a volatile housing market.
