Consumer loans in cash for mortgages getting cheaper faster than mortgage loans for housing purchase in the secondary market. However, the market for consumer loans banks extend not as active as the mortgage.
According to the company Prostobank Consulting, the average real interest rate on consumer loans in cash for mortgages for five years 01/24/2011 totaled 21.78% per annum. On 07/06/2010, she was at the level of 28.23% real per annum. Thus, from early summer 2010 the cost of these loans fell by 6.45 percentage points.
It is worth noting that the loans to purchase real estate for five years during this period fell less - 4.67 percentage points to 20.08% real per annum. In other words, the difference in the rates of these types of mortgage loans decreased in two times: from 3.48 percentage points in June 2010 to 1,7 p.p in January 2011
Simultaneously with the improvement of conditions on loans secured by real estate, increasing the number of banks offering such loans. Since last summer, the number of such institutions, among the 50 largest by assets, increased from four to 14. However, banks that issue mortgage loans for the purchase of "secondary housing" substantially more - 24.