This indicator was achieved in June, on the eve of the completion of the state program for new buildings and adjustments to the family mortgage
In the last month of the “State Support” program and the previous conditions of the “Family Mortgage” program, the demand for preferential mortgages increased to a new record level, follows from a study by Domklik analysts provided to the editorial office by the press service of Sberbank.
In June, Sberbank borrowers issued about 83 thousand mortgage loans — 70% more than in May. This figure exceeds the values of previous peaks in demand, which were noted in September and December 2023, respectively, analysts emphasize. “The share of preferential mortgages has increased dramatically — by 13 percentage points, to 76%, which is also the highest for the entire observation period,” the study notes.
The demand for mortgages has consistently grown as the deadline for completing a massive preferential mortgage at 8% and updating the terms of a family mortgage approaches, Domklik points out. In May, according to their data, the share of preferential mortgages in Sberbank’s disbursements was 63.2% (+10 percentage points by April), disbursements under preferential programs amounted to 49 thousand loans (+60% per month).
Analysts also draw attention to the fact that in the second quarter of 2024, the family program overtook the state-supported program in demand: their shares in Sberbank’s disbursements amounted to 31% and 29%, respectively.
“By the end of the second quarter, the demand for preferential mortgage programs reached its maximum: in three months, the share of preferential mortgages in the total number of loans increased from 41% to 76%, which is 15 percentage points higher than the value of the hyped December,” commented Alexey Leipi, director of the Domclick division of Sberbank. — In the largest regions, such as Moscow, St. Petersburg and Krasnodar Territory, demand for state programs began to grow back in May: then the percentage of transactions concluded on preferential terms increased by 10-15 percentage points and amounted to about 75%. In June, the percentage of preferential deals increased, but not so significantly (by 8-9 percentage points).” In sparsely populated regions with relatively low incomes, demand peaked in June, the expert added. The largest increase in the share of preferential mortgages in June, according to Domclick, was noted in the republics of Dagestan (+25 percentage points), Kalmykia (+25 percentage points) and Komi (+21 percentage points).
By the end of June, the share of family mortgages in Sberbank’s issuance reached a record 37% (+9 percentage points by May). About 40 thousand loans were issued under this program — almost twice as many as in May.
Disbursements under the program with state support” in the last month before its completion increased by 71% to 36.5 thousand loans. The share of the program has increased to a record 33% of “Savings” issues in the country (+ 6 percentage points by May).
Disbursements under the Far Eastern and Arctic Mortgage program in June increased by 16% compared to May results, to 2.9 thousand, for IT mortgages, the indicator, despite the early termination of disbursements due to the completion of limits, turned out to be comparable to May: about 2.8 thousand loans.
Since July 1, the mortgage program with state support for the purchase of new buildings at 8% has ceased to operate in Russia, and the family mortgage program has also been suspended. Then the family state program was extended until 2030, with adjustments to some parameters. Banks have already started accepting applications for an updated family mortgage.
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