OREANDA-NEWS. In January-September 2016, the banks extended mortgage housing loans (MHL) to households worth over 1 trillion rubles thus being pretty close to 2015 results, statistics posted on Bank of Russia website states.

Such growth can be attributed to active participation of banks in the government programme of subsidising the MHL interest rate.

September retained the trend to reduce MHL market rates which was taking shape last summer. The weighted average ruble MHL interest rate in September totalled 12.52% against 12.66% in August.

In general, the MHL debt reached 4.3 trillion rubles as of 1 October 2016. One needs to mention that the debt on foreign currency MHL accounted for 1.9% only of the total debt amount.