The Russians are actively taking new loans to cover old debts, found in the KJV

© RIA Novosti / Natalia to Seliverstova in fotobanka percent on display. Archival photoThe Russians are actively taking new loans to cover old debts, found in the KJV© RIA Novosti / Natalia to Seliverstova the image Bank

The Russians in the first six months of the current year took to cover the old debt record amount of consumer loans to 68.3 billion rubles, which exceeds the results for the same period last year by 1.7 times, according to a study from the credit history Bureau «Equifax» at the disposal of RIA Novosti.

The average amount of consumer credits, which is taken to refinance in Russia in the first half of 2018 has increased compared to the same period in 2017, 17% and amounted to 520 thousand roubles.

Increased significantly and the number of contracts refinancing: in the first half of 2018 concluded more than 131 thousand contracts, as compared to 92 thousand in 2017. As a result, the share of refinancing of the consumer credits from all renditions made up 2.28%, 0.78 percentage points higher than in the same period of 2017.

New records this product has continued to raise in July. Leading positions by the volume of consumer credits held in July 2018, the Russians refinanced loans for a total amount of 14.6 billion rubles, which is twice more than the result of July 2017. Borrowers with loans in July 2018, have increased the volume of refinancing compared to 2017 by 1.6 times — up to 171,9 million rubles. Intensive growth is also demonstrated by refinancing credit cards: in July 2018 were issued loans of this type totaling 57 million rubles, which is 2.3 times more than in July 2017.

The only product, the rate of refinancing, which slowed down in July, was a mortgage. Its historic maximum volume of refinanced mortgage loans have reached in may 2018, amounting to nearly 4.5 billion rubles. In July 2018 refinanced loans to buy housing in the amount of 3.2 billion rubles, which is 2.7 times more compared to the same period last year.

«Refinancing is very sensitive to the current state of the economy. Given the increase in the key rate of the Central Bank, hardly banks will continue to reduce rates. … There is an assumption that since September the volume of refinancing all the Bank products will show the trend to decrease, fixing their peaks in July-August 2018», — shared his expectations of the head of «Equifax» Oleg Lagutkin.