Average interest rates on mortgage loans denominated in Russia may drop this year to 12%. While the market the figure is 17%. This convinced the head of the Agency for Housing Mortgage Lending (HMLA) Alexander Semenyaka. "If we talk about the dynamics of interest rates, we expect that by the end of this year's rate of return to that level, which was in 2008, that is about 12% per annum" - told Semenyaka the media. This, including the activities will contribute to HMLA that refinances every five loans, he said. Average market rate for mortgage loans in rubles increased in Russia in April this year to 0.19 percentage points - up to 16.91% per annum and the average rate on mortgages in the U.S. rose by 0.58 percentage points - up to 13.85% pa previously reported by the brokerage company Kreditmart. According to CBR, the average weighted rate on ruble loans in the primary market was on April 1, 13,9% per annum, down in March by 0.1 percentage points. On foreign currency borrowing rate stood at 11.1%, down 0.3 percentage points. According to "Kreditmart" in May 2010, the total number of banks offering mortgages to purchase housing on the primary market, amounted to 6 banks (VTB 24, the Renaissance, RosEvroBank, Credit Bank of Moscow, Sberbank, Gazprom). In the near future with the programs of lending facilities for primary real estate market are preparing to enter the market has 3 of the pot. For comparison with the beginning of the year real estate lending in the primary market engaged in only 2 - 3 bank. Credit is given to individuals aged 21 to 70 years, having an official record in the last place of work for at least 6 months, proof of income is regarded as a help for 2-PIT, and in the shape of the bank. Minimum down payment is 10% (by the standards of HMLA). Before the registration of ownership of a minimum interest rate equal to 13% in rubles and 9.5% in dollars after the registration of ownership of the interest rate corresponds to the bank's lending program of the secondary housing market (an average difference of about 2,5%). The average loan amount being requested for the purchase of housing on the primary market this month amounted to 3,500,000 p. In May 2010, the total number of banks offering mortgage loans for housing purchase in the secondary housing market is 21. The number of banks offering trust secured loans available real estate and loans to buy homes with land on the secondary market, representing 19 banks. As of May 2010: A mid rate on the loan in rubles: Credit product March 2010 April 2010 May 2010 Min. Max. Min. Max. Min. Max. Credit for purchase of flats in the secondary housing market 13.85% 19.02% 13.71% 19.70% 13.29% 19.61% Trust loan against existing property 16.69% 21.19% 16.34 % 22.00% 15.93% 21.87% Loan to buy a house with land on the secondary market 15.03% 19.45% 14.16% 19.95% 13.91% 20.58% of the average rate on mortgage products in May 2010 decreased by 0.20 percentage points *, and was 16.71% (April 2010: 16.91%). Compared with April 2009 (19.79%) decrease in average market rates on ruble loans was 3.08 percentage points pp * (here and hereafter - percentage points). Average market rate on the loan in U.S. dollars: Credit product March 2010 April 2010 May 2010 Min. Max. Min. Max. Min. Max. Credit for purchase of flats in the secondary housing market 10.55% 15.49% 10.81% 16.52% 10.31% 16.61% Trust loan against existing property 12.32% 17.50% 11.98 % 18.22% 11.81% 18.11% Loan to buy a house with land on the secondary market 12.09% 16.35% 12.09% 16.89% 11.49% 17.51% compared to April 2010 average market rate in the dollar also fell by 0.17 percentage points and in absolute terms amounted to 13.68%. Compared with April 2009 (15.48) decrease in average market rates on dollar loans was 1.80 percentage points Proposal banks on programs with floating interest rates is limited. Over the past month average market rate for this category of loans in rubles increased, reaching 13.52% (April 2010: 12.46%) in U.S. dollars has also increased - 11.67% against 10.46% in April 2010 cause of increasing the average market floating rate is an increase in the index and Libor MosPrime. Thus, compared with April 2009 (24.77%) decrease in average market rates for programs with floating interest rates in rubles amounted to 11.25 percentage points Maximum Ratio of loan to collateral for all these programs is 90%. The maximum term of the loan program loan for the purchase of flats in the secondary market is 50 years old, on purpose loans secured by existing real estate, as well as the loan to buy a house with land - 30 years.
No comments:
Post a Comment