Russian banks in May reduced the mortgage portfolio by 0.1%

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AK&M 22 June 2022 14:33

The volume of the mortgage portfolio of Russian banks decreased by 0.1% in May 2022. Preferential mortgages amounted to about 50 billion rubles, which is slightly higher than in April (46 billion rubles) due to a reduction in the rate to 9% from April 30. This is evidenced by the materials of the Bank of Russia.

The issuance of family mortgages decreased by more than a third to 43 billion rubles from 68 billion rubles, although the rate on it is 6%. This may be due to the fact that the main demand of the population for a family mortgage was satisfied in March-April, the Central Bank emphasizes.

The volume of issuance of market mortgages (43 billion rubles) generally corresponds to April (37 billion rubles) and still remains low (the average monthly issuance in 2021 was about 350 billion rubles).