HomeEconomyThe collapse of the...

The collapse of the ruble: Russians took out mortgage loans for a record amount

Photo: Getty Images

The volume of mortgage loans issued in the Russian Federation in September set a historical record: 955 billion rubles.

Russian citizens are taking out record amounts of bank loans for the second month in a row, despite a key rate hike that the Russian central bank hopes will curb credit growth. The Moscow Times writes about it on October 20.

It was noted that at the end of September, the debt of individuals to credit institutions increased by 928 billion rubles, which is slightly less than in August (979 billion rubles).

function news4623387() {
$.get(‘//’ + window.location.host + ‘/ajax/module.aspx?spm_id=444&id=4623387&lang=2&IsAjax=true’, function (data) { $(‘#nk4623387’).html(data); });
}

news4623387();

At the same time, the volume of mortgage loans issued in September set a historical record: 955 billion rubles, which is 12% more than in August. Over the month, the portfolio of mortgage loans grew by 666 billion rubles – up to 17.1 trillion rubles.

The Central Bank of Russia explains the records of the numbers with the desire of Russians to take out a mortgage before the increase of the down payment under the preferential programs (from 15% to 20% from September 20), as well in fear of a further increase in apartment prices against the background of the depreciation of the ruble.

In turn, banks rush to issue loans before the tightening of requirements for the most risky loans from October 1. This is confirmed by large numbers for the issuance of preferential mortgages with the support of state – in September, such loans were issued for 646 billion rubles. (+27% on the August result).

For other types of lending, the slowdown began in September, so despite the mortgage record, the retail portfolio grew less than in August. The portfolio of consumer loans in September increased by 195 billion rubles, car loans – by 48 billion rubles.

At the end of September, the population’s debt to Russian banks reached 32.44 trillion rubles.

It was previously reported that inflation in Russia could exceed the September forecast of the Central Bank of the Russian Federation of 6-7% due to the continuation of monthly price growth near the high level of 2021.

New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

The DPRK was promised by the “unclear” Poddjakke of Russia in the war against Ukraine

Russian military criminal, secretary of the Russian Council Sergey Shayga, visited Phogyan, where he met with Kim Jong. He promised him that the DPRK would support Russia, in particular, in the war against Ukraine. The parties discussed a joint operation in the Kursk...

In Pryluky, RF Postal House -Topl in the leader of the leader

In Pryluky, a hostile drone hit the house of the head of the local fire department. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } His family was killed: his wife,...

Russians were pushed to Constant and could be shot by a garden from artillery

The Russians have advanced towards Konstantinovka and are already shooting from artillery Ukrainian positions near the city. This is indicated in the report of the Institute of Military Research (ISW). .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px;...