Demand for the housing credits in March in comparison with last year was reduced by 15%. According to forecasts of experts, falling will continue the Photo: Anton of Novoderezhkin/TASS Interest in a mortgage fell. Banks should fight for borrowers. According to the Joint credit bureau, the number of the housing credits issued to Russians in the I quarter was reduced by 12% in comparison with the same period of last year. As write Vedomosti with reference to data the HOUSE. The Russian Federation and Frank RG, are the most noticeable demand for a mortgage decreased in March — by 15% in comparison with the same period of last year and falling will continue. The reasons are explained by the junior director of the bank ratings of the Expert RA agency Ekaterina Shchurikhina. Ekaterina Shchurikhina the junior director of the bank ratings of the Expert RA agency "It is caused as the increased rates on a mortgage, and increase in prices for housing. Especially actively the prices grow in a segment of primary housing because in the middle of the year transition of builders to bank funding instead of participation financing will begin. Just the March failure is caused by the fact that in January and February mostly applications which were approved at the end of last year when excessive demand for a mortgage as borrowers saw increase in rates began were implemented and showed the advancing demand. We expect after all some delay of the market, at least in the first half of year while rates remain at the level steadily higher than 10%. And in the second half of year of the loudspeaker of rates and deliveries will depend considerably on whether the Bank of Russia will soften credit policy and whether rates on a mortgage and in general rates in the market will go down". Now the cost of the one-room apartment in the capital secondary housing market begins from 6 million rubles. Two years ago the price tag was 1.5 million lower, participants of the market say. But the prices will go down again soon, and the mortgage policy of banks will play in it a key role, the CEO of the company of "Mortgages.py" Dmitry Ovsyannikov considers. Dmitry Ovsyannikov the CEO of the company of "Mortgages.py" "50% of housing is got by means of mortgage loans. And if we consider not only those credits which are issued directly on purchase, but also on the security of, let us assume, to the available real estate that is when the purpose is obviously not traced then it will turn out that the mortgage plays much more significant role that not 50%, and it is possible, and all 70% of apartments are got with this or that participation of credit money. Now banks decided that they somehow highly raised interest rates, demand fell and whether it is time to lower interest rates again a little bit. Therefore I think that somewhere in the second quarter we will notice the surprising phenomenon when, on the one hand, interest rates slip again down, but also real estate cost creeps too down". According to experts, in March banks stabilized mortgage rates, and in April some large players even began small decrease. To add BFM.ru to your sources of news?
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