Ural Federal District: Mortgage Debt Up RUB 118.4bn

15 May 2019 (09:21)

UrBC, Yekaterinburg, May 15, 2019. Borrowers based in Ural Federal District took out nearly 31,000 mortgages (total amount: RUB 61 billion) in the first quarter of the year; this was 7.8% less than one year earlier in terms of the number of loans taken and 1% less in terms of the total amount.

According to the Central Bank of Russia’s Ural division’s press service, respective mortgage period is 17 years and 7 months long on average (as of April 1, 2019), compared with 16 years and 2 months as of April 1, 2018. The average mortgage amount rose from RUB 1.9 million to RUB 2 million.

Ural Federal District-based mortgage-payers had RUB 779.9 billion worth of mortgage debt as of April 1, 2019 (against RUB 661.5 billion one year previously). The percentage of overdue debt remains low (that is, under 1%). The average interest rate charged by local banks on ruble mortgages came to 10.38% a year at the start of the second quarter of 2019.

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