The volume of issued mortgage loans in the Republic of Tatarstan increased by 18.4% due to a decrease in rates

The share of overdue mortgage debt in the republic decreased to 0.64%. The decline in mortgage rates and government support measures have led to an increased demand for mortgage loans in Tatarstan. In the first half of 2020, the volume of mortgage loans issued reached 45 billion rubles, which is 18.4% more than a year earlier. According to the National Bank of the Republic of Tatarstan, the portfolio of mortgage loans in Tatarstan as of July 1, 2020 amounted to 228.9 billion rubles and has grown by 7.7% since the beginning of the year. In January - June, Tatarstan residents received 21.6 thousand mortgage loans, which is 6.6% more than a year earlier. Compared to December 2019, the average mortgage rate in Tatarstan decreased by 1.4 percentage points and amounted to 7.6% per annum in June. The share of overdue mortgage debts as of July 1 was 0.64%, which is lower than the national average of 0.94%. For comparison: a year earlier, the share of overdue debt in Tatarstan was 0.68%, and in Russia - 1.04%.