The agent banks of the Mortgage and Credit Guarantee Fund of Azerbaijan have issued mortgage loans worth 253.3 million manat ($149 million) from January through July 2022, which is higher by 2.08 percent than in the same period the previous year(230.5 million manat or $135.5 million), Trend reports via Central Bank of Azerbaijan (CBA).
According to the CBA, mortgage loans issued by banks in the amount of 193.6 million manat ($113.8 million) were refinanced in the same period in 2021.
Mortgage and Credit Guarantee Fund received 71.4 million manat ($42 million) from the state budget to finance mortgage loans, which is twice as much as in the same period last year (35.6 million manat or $20.9 million).
The average size of the mortgage loans issued amounted to 56,250 manat ($33,088) from January through July 2022. At the same time, loans were issued for a period of 282 months at an average rate of 6.31 percent per year.
During the reporting period, the Mortgage and Credit Guarantee Fund attracted 130 million manat ($76.4 million) from the placement of bonds (no placements were held in January, May and July)