Mortgage Credit in 2020

Ипотечное кредитование в 2020 г

Zubov Sergey
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Zubov Sergey: The Russian Presidential Academy of National Economy and Public Administration

Russian Economic Development, 2021, issue 2, 51-54

Abstract: Final transition to escrow accounts model in financing residential construction was the highlight of the mortgage market in 2020. That model provided state guarantee for the citizens investing in housing at the construction stage. Reduction of credit rates and implementation of the state program on interest rate subsidization for newly constructed building mortgage loans have resulted in upward demand on the real estate market. Over 2020, the Russian banks have built up the value of mortgage loans exceeding record indexes previously recorded in 2018.

Keywords: housing mortgage lending; soft mortgage programs; escrow accounts (search for similar items in EconPapers)
Date: 2021
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