In July-August this year, the number of mortgage applications filed by Russians, proved to be abnormally high for the period of summer vacations. About it RIA Novosti reported representatives of the banks — the major players in the mortgage lending market.

According to experts, a significant increase in demand for fixed mortgage because of lower interest rates and, in particular, due to the launch of the program of preferential lending at 6.5% per annum. In addition, business activity in the summer of 2020 almost fell: many Russians were deprived of the opportunity to travel and continued to solve their problems, including housing, in the usual way.

“Usually during summer, the activity in the mortgage market reduced due to the vacation period, — said the Agency PSB. But this year, the summer is implemented pent-up demand after the removal of the regime of self-isolation. In addition, this summer remains fairly high business activity — due to travel restrictions the holiday season, many declined or moved”.

Earlier it became known that the Russians have begun to arrange a mortgage for the maximum possible. By the end of July 2020 the average credit period exceeded 200 months, and the average full cost of a mortgage has dropped to 9 percent.