In 2020, Russians refinanced 234 thousand mortgage loans worth about 600 billion rubles.
The indicators became the highest for the entire time of observation.
This is stated in the report of the analytical center "DOM.RF".
Compared to 2019, the share of refinancing in the total issuance of mortgages more than doubled - to 13.7%.
As the authors of the study note, one of the reasons for the observed dynamics was a noticeable decrease in market rates for housing loans in Russia.
According to the latest data from the Central Bank, from January to November 2020, the average interest on mortgage loans in the country fell from 9 to 7.38% per annum.
At the same time, according to the calculations of "DOM.RF", the rate on refinancing housing loans for the year decreased from 9.5-10% to below 8%.
“The growth of refinancing volumes makes it possible to reduce the payment burden on borrowers by reducing the monthly payment.
As a result, the probability of default on the loan is reduced, which contributes to improving the quality of the bank's mortgage portfolio as a whole, "Mikhail Goldberg, head of the DOM.RF analytical center, told RT.
According to the organization's estimates, the reduction in refinancing rates allows bank customers to save about 3 thousand rubles a month on payments (the calculation was made on the basis of a loan of 2.5 million rubles for a period of 18 years).
At the same time, the total overpayment on the loan is reduced on average by about 23% (by 674 thousand rubles).
In addition, on-lending programs enable citizens to extend the loan repayment period and set a comfortable monthly payment level for themselves.
This opinion was expressed in an interview with RT by Pavel Sigal, the first vice president of the all-Russian public organization of small and medium-sized businesses "Support of Russia".
“Against the backdrop of the pandemic, some Russians faced a decrease in their real incomes and could no longer fully service their earlier obligations.
At the same time, financial institutions in most cases meet clients halfway: they offer a decrease in interest or an increase in the maturity.
For banks, such borrowers are also beneficial, since they have already demonstrated their payment discipline, ”the expert emphasized.
At the same time, the record growth in the volume of refinancing did not lead to a bubble in the market.
According to DOM.RF, the share of overdue mortgage arrears over 90 days in Russia is less than 1.4%, while in the primary market the indicator is at the level of 1.1%.
Against this background, housing loans remain the most reliable instrument for lending to the population, analysts are sure.
“Russians do not want to risk housing, so they approach taking a mortgage in the most responsible way.
At the same time, promotions such as lower interest rates or lower monthly payments encourage borrowers to pay on time.
This allows the bank to simultaneously increase the base of reliable customers and minimize the risks of default on loans, "Artem Lyutik, managing director of Univer Capital, told RT.
© Maxim Bogodvid
According to the head of the analytical department of AMarkets Artem Deev, measures of state support of the industry play in favor of the stability of the real estate market.
First of all, we are talking about launching a preferential mortgage program at a rate of 6.5% per annum.
The corresponding initiative was launched in April 2020 and was originally designed for almost six months, but later the government extended its action until July 1, 2021.
You can get a loan at a reduced rate when buying apartments worth up to 12 million rubles in the Moscow and St. Petersburg agglomerations, as well as up to 6 million rubles in other regions of the country.
“In 2020, the subsidized program has reduced interest on housing loans for all categories of citizens.
Largely due to the extension of the initiative, average market rates will remain within 7% in 2021, "Deev said in an interview with RT.
At the same time, participants in preferential programs can count on an even greater reduction in interest on loans, added Mikhail Goldberg.
According to him, within the framework of the "Family Mortgage" program, which started in 2018, Russians can reduce the rate to 5%.
“In addition, since December 2019, a program has been in effect for the payment of 450 thousand rubles to pay off the mortgage to families in which the third and subsequent child was born.
In total, during the implementation of the initiative, about 116 thousand Russian families took advantage of it, including 4.5 thousand in January 2021, ”the analyst noted.