OREANDA-NEWS  Russians are rushing to take out housing loans after the Central Bank sharply raised the key rate. The growth of indicators in August reached 50 percent, Izvestia reports with reference to large banks.

"In August, 22 percent more housing loans were issued than in July, both in quantitative and monetary terms. The peak of disbursements in terms of volume occurred in the first half of the month, and in terms of quantity — in the second," said Ivan Belyaev, Director of the Retail Sales Department of Novikombank.

According to Irina Babina, chief analyst of the Mortgage Products Department of Rosbank Dom, mortgage issuance in August increased by 24 percent in quantitative terms compared to July. By the end of the month, the indicators had quadrupled. State programs were in particular demand, the volume of loans for which rose by 70 percent in August alone.