Abstract
In 2014, the volume of housing mortgage lending (HML) in the Russian Federation continued to grow despite the development of crisis phenomena in the Russian economy. The volume of housing mortgage credits (HMC) allotted in 2014 (Rb 1.762 trillion) was 30.18% above the same index for 2013, while their number grew by 22.7% on the previous year. The quality of the ruble-denominated HMC portfolio improved: the amount of stale debt against HMC denominated in rubles shrank by 0.15 p.p. on 2013, to 0.86%. The quality of the HMC portfolio denominated in foreign currencies also improved: the amount of stale debt against HMC denominated in foreign currencies shrank by 0.12 p.p., to 12.57%. Over the course of the year, the average monthly weighted interest rate on HMC denominated in foreign currencies grew by 1.06 p.p. on 2013, to 13.16% for December 2014. The average weighted interest rate on HMC denominated in rubles shrank by 0.35 p.p. on 2013, to 9.25%.
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