Mortgage dynamics in Russia

One of the key elements of the economy of the consumer society is a mortgage. Back in the 1990s. This concept seemed an echo of someone else's civilization. When in the second half of the 1990s. I met in America with a housing system, it seemed to me fantastic. In the zero years, the mortgage became an element of the daily life of the noticeable part of the population of Russia.

Now her dynamics is impressive. However, if the gloomy forecasts of the crisis are justified, then rainbow statistics will turn into a picture of a powder arsenal, to which a light creeps, because The rationality of this method of solving the housing problem is harshly attached to the availability of stable work and salaries.

"Vedomosti" (11/12/2013):

"For nine months since the beginning of the year, Russian banks issued almost 560,000 mortgage loans by 906 billion rubles. This exceeds January - September 2012 by 17% in quantitative and 30% in monetary terms, follows from the statistics of the Central Bank <...>

In 2012, banks led more than 1 trillion rubles. new loans (annual growth - more than 40%). After such records, AIZHK predicted, growth rates should slow down this year up to 20%, and more growth would “testify to the market overheating”.

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Two factors contribute to the growth of mortgage lending, AIZHK experts say. The first is the cost of loans. The weighted average mortgage rates decreased from 12.9% in March to 12.4% compared to October, AIZHK indicates. Until the end of the year, according to AIZHK forecasts, the rates will still decrease due to the “acute competition of banks”. The second factor is the cost of housing. Housing prices, according to Rosstat, have increased on average by 8.1% over nine months in relation to the same period in 2012, “which, in conditions of inflation recorded during this period (6.9 p.) Talks about a fairly increase in housing prices in real terms,” experts of AIZHK draw the conclusion.

“People strive to buy real estate, take a loan [for this] in order to be in time before the dynamics of housing prices begins to accelerate,” confirms Ter-aristarens. <...>

More than 95% of mortgage loans is served “without a single overdue payment”, the AIZHK report is indicated. But, agency experts warn, in the event of a sharp deterioration in the economic situation and the growth of unemployment, the share of overdue payments can grow, and the quality of the mortgage portfolio “will quickly worsen”.

Exacerbation of employment problems will deteriorate loans, but the banks were insured against losses, says Ter-Arystesyants: “Most of the mortgage was issued with a significant initial contribution, and if problematic debts appear, the contribution compensates for possible losses.”

( http://www.Vedomosti.ru/finance/news/18619591/ipoteka-uhodit-v-otryv#ixz2ksydbk30 ).

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