Cheap mortgage can not wait a year

According to HMLA, next year, the average rate on ruble loans mortgage rises to a maximum of 13.5%. Judging by the fact that it is now approximately 12.5%, and the prospects to get cheap money for loans at low interest rates, most banks do not, it's too optimistic forecast.

The following year, the Russian mortgage will continue to go up, lending rates will rise to an average of 13-13,5% per annum, said today at the annual Russian Financial Forum General Director of the Agency for Mortgage and Lending (AHML) Alexander Semenyaka. According to him, over 2012 banks raised their mortgage rates "moderate pace," in proportion to the cost of raising funds.

HMLA traditionally cautious in the predictions of growth of credit rates. Previously, the agency predicted that the end of the average rate mortgage will not rise above 12.5%. However, according to the Central Bank on 1 October (more recent data are not), it already was 12.4%, rising for the first nine months from a level of 11.7%.

Of the average growth rates of trying to keep up and AHML - from January 14, 2013 Agency raises rates for its main product - "Standard", "mother's capital" and "Low-rise housing" - an average of 1 percentage point. As a result, the lowest possible bid for the cheapest product will increase from 8.3% to 9.2% per annum and the maximum rate of the loan "Standard" will be 14.55% per annum (before - 12.8%).

In HMLA bound to be increased their bets that the standard for the refinancing of mortgage products the agency has to raise finance on the general market conditions by placing corporate bonds and mortgage-backed securities. "The cost of funding over the last year has increased significantly, in addition to the credit margin and operating costs directly affect the interest rate on the mortgage," - said the representative of the agency.

On the bond market is a separate niche AHML, it can not be assessed as usual corporate borrower, experts say. Since November 28, "Mortgage Agent of AHML 2011-1" (the company, the hosting AHML) posted three issues mortgage bonds totaling $ 5.292 billion rubles. Issues include the payment of quarterly coupon rate for the first coupon of the bonds A1/12 set at 9% per annum, A2/12 - 3%. Under bonds and A1/12 A2/12 additionally guaranteed by AHML bonds placed by private subscription, and presumably have been redeemed in full by VEB.

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