The most expensive mortgage loans in the Volga Federal District are in Bashkortostan
The weighted average interest rate on ruble mortgage loans in Bashkortostan amounted to 12.9 percent per annum at the beginning of December 2013. This is the maximum rate in the Volga Federal District and one of the highest in the country, according to the website of the Bank of Russia. This figure is higher only in Khakassia and Irkutsk region — 13.2 and 13 percent, respectively. The Russian average index is 12.5 percent.
In other regions of Volga the weighted average rate ranges from 11.8 percent in the Orenburg region to 12.7 percent in the Udmurt Republic and Perm. Across Russia the range of average mortgage rates by regions is from 11.6 (Nenets Autonomous District) – to 13.2 (Republic of Khakassia) percent per annum.
As the National Bank of the republic explains, different levels of the weighted average interest rate in the regions show the differences in the structure of mortgage loan portfolios and the market in general. So, if the weighted average term of loan granting was 171.8 months in Bashkortostan, then the Russia's average was 179.5 months, 178.4 months in the Volga Federal District. If the average size of mortgage loan in Bashkortostan was 1257 thousand rubles, then across the country it was 1634 thousand rubles and 1234 thousand rubles in the Volga Federal District.
In the second half of 2013 the weighted average mortgage rate in the republic was gradually approaching the national average, the National Bank informs. In early July, they differed by 0.6 percent (13.3 percent and 12.7 percent, respectively), and in early December — by 0.4 percent.
According to the National Bank, in January-November 23,231 mortgage loans were granted in Bashkortostan for the sum of more than 29.2 billion rubles.