In December 2022, there was an increase in activity in the mortgage loan market, typical of the last month of the year, notes the Central Bank. The Russians issued mortgage loans totaling 696.9 billion rubles. This is 8.7% more than in December of the previous year, when, by the way, the previous record was set – 641.3 billion rubles.
At the same time, the number of issued mortgages decreased by 8.4% compared to December last year. In December 2021, 192.4 thousand loans were issued and in December 2022, only 176.2 thousand.
One of the reasons for the December rush is the desire of borrowers to get a loan before the prime mortgage rate is raised (as of January 2023, it has risen from 7% to 8%). Against this background, the increase in the volume of mortgage loans for new buildings in December was more pronounced: 57.4 thousand loans were issued for 311.8 billion rubles, which is 5.0% higher than December 2021. in number and 36.8% in volume. Such a dynamic is due, among other things, to an increase in the average size of a mortgage loan on the primary market by 1.3 million rubles per year.
The total volume of loans granted to individuals increased in December at a slower pace than the volume of mortgage loans (19.2% against 48.1%, respectively, compared to November), reaching 2,112.0 million rubles , which, however, is also the maximum value , noted in the Central Bank. As a result, the share of mortgages in total loans to individuals increased from 31% at the end of 2021 to 33.0% in December 2022.
The weighted average mortgage rate at the end of the year began to decline. In December 2022, it was 6.65% (in November – 7.11%). This is due to an increase in the proportion of loans for new buildings. At the same time, the interest rate on loans excluding new buildings also decreased during the month, from 9.67% to 9.57%.
The weighted average term of the loans increased considerably: in December, mortgages were issued for an average of 24 years (289 months). In November, the term was half a year less: 283 months.
Overall, 4.813 trillion rubles in mortgage loans were issued during the year. This is 15.5% less than in the record year of 2021 (5.7 trillion). Mortgage loans were issued by 1,327 million people, 30% less than a year earlier (there were 1.9 million people).
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