Residential mortgage keeps growing in Russia

In 2016 H1, credit institutions extended 389,800 residential mortgage loans (RML) worth 389,800 according to statistics posted on Bank of Russia website.

The growth of provided funds against 2015 H1 data totalled 44.2% and was still attributed to loans in rubles.

In 2016 H1, the loan debt in foreign currency kept on reducing and accounted for 2.3% in RML total portfolio by the middle of 2016.

RML distribution by region remained the same with borrowers from Moscow, the Moscow Region, Saint Petersburg and the Tyumen Region still accounting for the biggest share of RML extended over the recent years.

Weighted average interest rate on RML extended in rubles in June 2016 maintained its level as of May 2016 at 12.99%.