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Rate on mortgage loans in Kyrgyzstan decreases

Rate on mortgage loans in Kyrgyzstan decreases, the State Mortgage Company reported.

The volume of all issued mortgage loans in national and foreign currency for 6 months of 2017 amounted to 2 billion 532 million soms. This is three times higher than the volume of issued loans for the same period last year — 780 million soms.

Credits due to investment funds of the State Mortgage Company for 6 months amounted to 800.8 million soms, or 32 percent of all mortgage loans.

In June 2017, the volume of loans from the funds of the State Mortgage Company was the largest since the very beginning of the company’s activity.

The tendency of decreasing the average rate on mortgage loans in the national currency continues. As of June 30, 2017, it was 14.11 percent. This is influenced by the growth in the portfolio of mortgage loans due to the State Mortgage Company, the weighted average rate for which was 11.45 percent at the end of June. If not t take into account its influence, the rate of commercial banks in national currency comprised 16.04 percent.