OREANDA-NEWS The average mortgage term in Russia was 24.1 years. This indicator can be considered a historical maximum. This information is presented in the official data of the Central Bank.

According to the bank, the average term on housing loans issued by Russian banks in December increased sharply - by 5.9 months. Thus, this indicator reached a value of 289.4 months, which was a record level at least since the beginning of 2018.

Over the year, the average mortgage term increased by 32.3 months, or 2.7 years, while in 2021 the average term increased by 32 months, and in 2020 - by only 10 months. At the same time, the number of mortgages issued in December jumped by 36.8% - to a maximum of 176.2 thousand units since December 2021. The average mortgage size by the end of last year rose to a record 3.95 million rubles against 3.65 million rubles a month earlier and 3.3 million rubles by the end of 2021.

In total, 1.327 million housing loans worth 4.8 trillion rubles were issued in 2022, compared to 1.9 million loans worth 5.7 trillion rubles in 2021. The number of loans issued in 2022 decreased by 30%, and the total volume - by 15.5%.