OREANDA-NEWS The growth rate of mortgage lending in the Russian Federation slowed to 0.7% in October from 0.9% in September, according to the information and analytical material of the Bank of Russia "On the development of the banking sector of the Russian Federation in October."

"According to preliminary data, mortgages slowed to 0.7% after 0.9% in August and September," the materials say.
It is noted that the disbursements in October amounted to approximately 367 billion rubles and remained virtually unchanged compared to the previous month (373 billion rubles in September).

"State support accounted for about 70% of all disbursements (about 250 billion rubles, which is 7% lower than in September).

According to the Central Bank, the main driver remains the "Family mortgage": about 190 billion rubles were issued for it, which is 5% more than in September.

"The issuance of market mortgages increased by 14%, to about 117 billion rubles from 103 billion in September, despite the increase in rates, which may indicate the use of various schemes with increased risk for borrowers. The Bank of Russia is working on measures to limit such practices," the materials indicate.
It is noted that the Standard for the Protection of the Rights and Legitimate Interests of Mortgage Borrowers, which will enter into force on January 1, 2025, will also help to prevent risks.