Twenty years ago, not everyone was known to the meaning of this term —
In 2020, banks put a record. In just 9 months, the volume of mortgage loans exceeding the entire 2018 — more than 3.25 trillion was issued. rubles. Scale is even more impressed if we turn to the numbers of twenty years ago. How did the market begins and what volumes of lending were the participants showed?
In 2005, the volume of the mortgage lending market was slightly over 56 billion rubles. For comparison, in 2017, only Raiffeisenbank issued mortgage loans by 59 billion rubles. The explosive market growth began in 2006 — in just a year, the volume of the loan portfolio increased more than 4 times. Having achieved a maximum value in a quarter of a trillion rubles.
The market quickly recovered — it took only 2.5 years so that in 2012 the next record was raised. The portfolio stepped over the mark of 1 trillion rubles. From this point on, despite the fall of the ruble exchange rate, the volume of lending to the population will not fall. How it happened during the crisis of 2008-09.
Since 2012, the regulator supports a low key bid. Reduced interest on the loan, an increase in the solvency of the population is a direct result of the demand and popularity of the banking product. The main key factor remains launch of the additional subsidy subsidy programs. In 2020, the record was raised due to borrowers who shifted their plans for the purchase of housing. It was at the end of the year that the program was extended at a rate of lending 6.5%.
Competition between banks creates new unique opportunities. Banks offer customers redemption of existing mortgages and design for more attractive conditions. The trend began in 2012 — then the market began to bring the refinancing products of mortgage loans. The proportion of refinancing products in 2012 was less than 0.7%. In 2020, the proportion of refinancing products was already 13%. Customers had a standard agreement with an interest rate of 10% (given all commissions and insurance payments). The transition to the rate of 8.5% allows to reduce the monthly payment by 4.5-5 thousand rubles. This is quite attractive savings. The year comes out 2-3 medium wages.
Further sustainable maintenance of key rates at a low level will not lead to a drop in the volume of mortgage lending. Moreover, government programs may lose their relevance. Low betting and weak ruble give additional incentives to invest in a reliable asset — real estate. Today, the rate on preferential financing and proposal of banks differs in the range of 1.5%. In the next few years, it will shrink. There will be no multiple explosion and market growth, but the demand will be stable. An additional growth factor can be to reduce the cost of housing of the secondary fund.
We hope that the mortgage will be even more affordable and interest rates will decline, since for many mortgage loans this is the only chance to provide themselves with housing.
Do you have a mortgage and under what percentage you approved it? — We are waiting for comments on this topic.
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