Weighted average ruble mortgage lending rate down to value of early 2014

Housing mortgage lending figures demonstrated upward trend in January-February 2016, according to the data on the Bank of Russia website.

Credit institutions extended 117.3 thousand housing mortgage loans in rubles for a total of ? 204.2 billion, a ? 54.6 billion (36.5%) increase versus the relevant period of the previous year. While they extended 6 housing mortgage loans in foreign currency versus 14 ones in January-February 2015, the amount of the provided funds was down from 0.5 billion to 0.2 billion in ruble equivalent, to 0.1% of the total amount of extended housing mortgage loans.

This year the borrowers of Moscow, the Moscow Region and Saint-Petersburg account for a major amount of housing mortgage loans. Partially government-owned credit institutions retained leading positions in the housing mortgage lending market. Their contribution to the total amount of extended loans was 58.3%. Weighted average ruble mortgage rate for the loans extended in February 2016 was 12.1%, down to approximately early 2014's figure.