CrimeaPRESS reports:
Banks sharply increased housing loan issuance in June to 788 billion rubles amid news about a possible increase in the key rate Central Bank and tightening the conditions of preferential programs. The June volume of issuance immediately exceeded the May volume by 44%, according to the information and analytical material of the Central Bank «On the development of the banking sector».
Issues increased by 44% to RUB 788 billion, which corresponds to the average monthly volumes of the record second half of 2023— such data is provided in the document.
In particular, demand for family mortgages increased by 81% in June to 383 billion rubles, which is the maximum for the entire period of this preferential state program.
Borrowers were probably afraid that its terms would become more stringent.— analysts from the Bank of Russia explained these figures.
Loan issuance under the most widespread preferential mortgage program for new buildings at 8% per annum increased by 59% in June to 210 billion rubles from 132 billion rubles in May. This program ended on July 1, 2024. In general, mortgage issuance with state support increased from 422 billion rubles in May to 629 billion rubles in June.
The remaining 158 billion rubles are mortgages issued at market rates. They also grew compared to June — by 28%.
This is quite a significant increase given the high market rates.— the Central Bank notes.
source: «Russian newspaper»
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