The average rate of the Russian banks on mortgage loans in July fell to 10.94%

MOSCOW, September 6. /TASS/. The weighted average rate on mortgage loans in Russia decreased in July 2017 to 10.94% from 11.1% a month earlier, the Bank said Russia.

The average rate on mortgage loans in rubles granted under the pledge of receivables under contracts of participatory construction, decreased from 10.71% in June to 10.53% in July of this year.

In the first seven months of 2017 a credit institution provided 507,9 thousand housing mortgage loans (HML) in the amount of 927,7 billion rubles, which is 20% more than the year before. As a result, the volume of issued mortgages was higher than in the corresponding period of 2014, the former record the results of the respective loans, said the Central Bank.

Overall mortgage portfolio by 1 August 2017 rose from the beginning of this year by 5.3% to 4.7 trillion rubles. The share of foreign currency loans declined by 0.5 percentage points to 1.1% of the total debt on MHL amounted to 54 billion roubles. In addition, low level kept the share of overdue loans is 1.5% or 72,8 billion rubles.