On the State of the Mortgage Market in the Russian Federation in the Conditions of Global Economic Crisis
On the State of the Mortgage Market in the Russian Federation in the Conditions of Global Economic Crisis

Summary/Abstract: The study is directed to the one of the main socio- economic objectives of the state – the development of mortgage lending and increasing the affordability of housing in the real estate market. The article assesses the status and prospects of development of the mortgage lending market of the Russian Federation in the crisis period on the basis of the analysis of dynamics of the following main factors: the amount and structure of mortgage loans, the weighted average lending period, the weighted average interest rate on ruble and foreign currency loans in the period from 2007 to 2015. Particular attention is paid to the factors affecting the volume of mortgage loans during the recession. Based on official statistics, the state of the mortgage market is analyzed, the basic tendencies of its development during the reporting period of crisis, and the factors that influenced the dynamics of the number and structure of mortgage loans are identified. It was found that the state program to support the real estate market in the crisis was effective and gave impetus to the growth of the missing volumes of mortgage loans.

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