Russian Central Bank Named Regions With Highest Mortgage Loans Rates

The highest weighted average rates on mortgage loans issued in January 2021 were recorded in the Republics of Chechnya (8.06 per cent), Ingushetia (8.03 per cent), and Tyva (7.99 per cent), TASS reports with reference to the data provided by the Central Bank of Russia. 

In Russia as a whole, the weighted average rate on mortgage loans for the first month of the year decreased by 0.13 percentage points compared to December 2020, to 7.23 per cent. According to the Central Bank statistics, the lowest average mortgage rates were recorded in the Chukotka Autonomous Okrug (4.98 per cent), Primorsky Krai (5.89 per cent), and the Republic of Sakha (Yakutia) (5.94 per cent).

It is noted that in Moscow the weighted average rate on mortgage loans was higher than the national average (7.34 per cent), in St. Petersburg it was lower (7.21 per cent). In total, in January 2021, Russian banks issued more than 95 thousand mortgage loans for almost 259.5 billion rubles. By February 1, 2021, the total bank portfolio of mortgage loans increased to 9.174 trillion rubles.

Ru-Main, 08.03.2021

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