Mortgage Lending in January-July 2022

Sergey A. Zubov – Senior Researcher of the Russian Presidential Academy of National Economy and Public Administration, Candidate of Economic Sciences, Associate Professor (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

The destabilization of the economic situation led to a decline in the volume of transactions on the mortgage market. The subsequent measures of the government and the Central Bank helped reducing market rates and partially restore activity at the market. The schemes of practically interest-free mortgages introduced by banks and developers against the backdrop of inflated housing costs may become a source of serious issues on the market.

Key words: mortgage lending, subsidized mortgage programs, mortgage lending market overheating.

JEL-codes: E58, G21, G28.