Russian mortgage at historic low: The SBU reveals the reasons for the crisis.

According to inkorr.com: According to information provided by the Ukrainian foreign intelligence service, the situation with problematic mortgages in Russia is actively deteriorating. The share of mortgage loans with overdue payments has reached a maximum in recent years.

'The reason is the mass issuance of preferential mortgages in 2023-2024 to borrowers with high debt loads and a sharp increase in the key rate. The amount of overdue debt has already exceeded 170 billion rubles, which is a historic maximum,' the intelligence noted.

Situation in the mortgage market

The highest overdue rates have been identified in the North Caucasus, particularly in Ingushetia, where this rate reaches 11%. Experts point to a significant increase in problematic debt since the spring of 2024.

'Russians are increasingly struggling with payments due to inflation and declining incomes, while banks and developers artificially supported the market by selling housing to people without real financial capabilities. The mortgage market in Russia is rapidly deteriorating – and this is just the beginning of the crisis,' emphasized the SBU.

According to the intelligence data, problematic mortgages in Russia have significantly increased due to the decline in the population's financial capabilities caused by inflationary processes and reduced incomes. The mass issuance of preferential mortgages in 2023-2024 has led to record levels of overdue debt, indicating the onset of a crisis in the housing loan market in the country.

This data indicates serious economic challenges faced by Russia in the context of mortgage lending. As the crisis deepens, overdue payments may rise even further, impacting the financial stability of both individual borrowers and the banking system as a whole.