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Mortgage Lending in January-May 2021: Upside Risk of the Real Estate Market
[Ипотечное Кредитование В Январе-Мае 2021 Г.: Риск Перегрева Рынка Недвижимости]

Author

Listed:
  • Zubov Sergey

    (Russian Presidential Academy of National Economy and Public Administration)

Abstract

At the beginning of this year, the growth rate of residential mortgage lending (RML) corresponded to the average level of 2020. The market situation is largely influenced by the reduction in interest rates caused by the implementation of state preferential mortgage programs. The rise in prices in the primary and secondary housing markets amid more expensive bank funding and an increase in construction costs create potential upside risks in the real estate market and results in a mortgage bubble, which forces the government and the Central Bank of the Russian Federation to take measures to cool the market.

Suggested Citation

  • Zubov Sergey, 2021. "Mortgage Lending in January-May 2021: Upside Risk of the Real Estate Market [Ипотечное Кредитование В Январе-Мае 2021 Г.: Риск Перегрева Рынка Недвижимости]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 7, pages 32-35, July.
    • Handle: RePEc:gai:recdev:r2176
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    More about this item

    Keywords

    mortgage lending; subsidized mortgage programs; mortgage lending market overheating;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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