{"id":134003,"date":"2021-06-16T11:59:21","date_gmt":"2021-06-16T11:59:21","guid":{"rendered":"https:\/\/armbanks.am\/2021\/06\/16\/249876\/"},"modified":"2024-12-15T13:44:44","modified_gmt":"2024-12-15T13:44:44","slug":"mortgage-lending-in-armenia-on-the-rise-central-bank-says","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2021\/06\/16\/134003\/","title":{"rendered":"Mortgage lending in Armenia on the rise, central bank says"},"content":{"rendered":"\n<p><strong>YEREVAN, June 16. \/ARKA\/.<\/strong> Consumer lending in Armenia is not booming, but mortgage lending has intensified, Chairman of the Central Bank Martin Galstyan told reporters on Tuesday.<\/p>\n\n\n\n<p>Earlier that day the Executive Board of the Central Bank made a decision to raise the refinancing rate by 0.5 percentage points, setting it at 6.5%. The regulator had already raised the rate by as much on May 4, 2021.<\/p>\n\n\n\n<p>According to Galstyan, the raise is expected to make the local banks raise interest rates on loans to some extent, &#8216;which, on the one hand, can naturally affect investments, but, according to our estimates, it is extremely important that this affects private consumption,&#8221; Galstyan said. He said some banks have immediately reacted by raising rates on deposits.<\/p>\n\n\n\n<p>According to him, over time, the increase in rates will be more pronounced, in general, a certain increase in rates is expected during 2021.<\/p>\n\n\n\n<p>At the same time, he noted that over the last &nbsp;5 months the consumer lending dropped by 3.8% year-on-year, while &nbsp;mortgage lending increased by 13.1%.<\/p>\n\n\n\n<p>&#8220;Basically, the growth in &nbsp;mortgages is being prompted by the purchase of housing from the primary market, as the government returns&nbsp; income tax to pay off interest on mortgage loans,&#8221; Galstyan said.<\/p>\n\n\n\n<p>He also noted that over the last 5 months, deposits in Armenian drams have grown &nbsp;by 4.2%, and in foreign currency&nbsp; by 5.1%. \u20130&#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Consumer lending in Armenia is not booming, but mortgage lending has intensified, Chairman of the Central Bank Martin Galstyan told reporters on Tuesday<\/p>\n","protected":false},"author":1,"featured_media":174236,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15837,12727,12313,308],"class_list":{"0":"post-134003","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news","9":"tag-armenia-2","10":"tag-lending","11":"tag-mortgage","12":"tag-308"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/134003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=134003"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/134003\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/174236"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=134003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=134003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=134003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}