The collapse of the ruble caused an increase in demand for mortgages

In March, Russian banks are seeing increased demand for mortgages. Clients want to buy an apartment with a mortgage at record low rates for the Russian market.

Some banks have already begun to raise rates , while others are waiting for the meeting of the Central Bank and are in no hurry to take active steps to change the terms of lending.

This month, VTB Bank clients are actively applying for a loan for buying an apartment. A 15 percent increase in demand was recorded.

Issues under mortgage programs at Promsvyazbank in the second week of March grew by almost 30 percent compared to the first week of the month. Demand for mortgages at Raiffeisenbank remains consistently high. In MCB, the growth in applications and transactions amounted to about 30 percent compared to February.

In Sovcombank, the growth of new applications for mortgage a> has been observed since the second half of February after the rate cut. Otkritie Bank records a "local" increase in demand by 15-20 percent for all loan products, including mortgages.

Rosselkhozbank also notes a 5% growth in mortgage applications issued under standard programs. According to SMP Bank analysts, the beginning of 2020 is an active period for the