OREANDA-NEWS Mortgage issuance for the purchase or construction of a private house in Russia in April increased by almost 12% compared to March and exceeded 100 billion rubles, according to materials from the Bank of Russia, which were analyzed by RIA Novosti.
In April, banks issued 37 thousand mortgage loans for this purpose in the amount of 101.9 billion rubles. And in just a month, 123.2 thousand mortgages were issued for 465.8 billion rubles. The portfolio reached 18.9 trillion rubles.
The average mortgage term for individual housing construction (IHS) reached 23 years and four months in April. The average rate decreased from March’s 8.08% to 7.96%. At the same time, the average rate for the construction of a private house reaches 6.96%, and for the purchase of a finished one – 9.97%.
The average mortgage rate in April remained at the March level of 8.41% per annum, and the average term was 24 years and nine months.