Factors of heterogeneity of mortgage refinancing in the Russian regions
During the period of soft monetary policy in Russia, there was heterogeneous regional growth of mortgage refinancing. Social, demographic, economic and financial indicators of the Russian regions explain interregional differences in mortgage refinancing. The article confirms the hypothesis about het...
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| Format: | Article |
| Language: | English |
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Publishing House of the State University of Management
2023-09-01
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| Series: | Вестник университета |
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| Online Access: | https://vestnik.guu.ru/jour/article/view/4664 |
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| author | E. A. Gafarova |
| author_facet | E. A. Gafarova |
| author_sort | E. A. Gafarova |
| collection | DOAJ |
| description | During the period of soft monetary policy in Russia, there was heterogeneous regional growth of mortgage refinancing. Social, demographic, economic and financial indicators of the Russian regions explain interregional differences in mortgage refinancing. The article confirms the hypothesis about heterogeneity of effect of reducing average mortgage rate on mortgage refinancing in the Russian regions. Empirical estimates have been obtained by panel vector autoregression for groups of regions depending on the average income of population and average housing prices. The greatest increase of mortgage refinancing reduction of mortgage rates occurred in groups of regions with highand middle-income levels and liquid housing market. When mortgage-lending conditions are relaxed, regions with low average per capita incomes benefit least from mortgage refinancing. |
| format | Article |
| id | doaj-art-18488431b4bc452290125b07da821f4e |
| institution | Kabale University |
| issn | 1816-4277 2686-8415 |
| language | English |
| publishDate | 2023-09-01 |
| publisher | Publishing House of the State University of Management |
| record_format | Article |
| series | Вестник университета |
| spelling | doaj-art-18488431b4bc452290125b07da821f4e2025-02-04T08:28:17ZengPublishing House of the State University of ManagementВестник университета1816-42772686-84152023-09-010817218210.26425/1816-4277-2023-8-172-1822875Factors of heterogeneity of mortgage refinancing in the Russian regionsE. A. Gafarova0Division – National Bank of the Republic of Bashkortostan of the Ural Main Branch of the Bank of RussiaDuring the period of soft monetary policy in Russia, there was heterogeneous regional growth of mortgage refinancing. Social, demographic, economic and financial indicators of the Russian regions explain interregional differences in mortgage refinancing. The article confirms the hypothesis about heterogeneity of effect of reducing average mortgage rate on mortgage refinancing in the Russian regions. Empirical estimates have been obtained by panel vector autoregression for groups of regions depending on the average income of population and average housing prices. The greatest increase of mortgage refinancing reduction of mortgage rates occurred in groups of regions with highand middle-income levels and liquid housing market. When mortgage-lending conditions are relaxed, regions with low average per capita incomes benefit least from mortgage refinancing.https://vestnik.guu.ru/jour/article/view/4664mortgage refinancingmortgage housing lendingmonetary policymonetary easingmortgage refinancing channelregional heterogeneityvector autoregression modelpanel data |
| spellingShingle | E. A. Gafarova Factors of heterogeneity of mortgage refinancing in the Russian regions Вестник университета mortgage refinancing mortgage housing lending monetary policy monetary easing mortgage refinancing channel regional heterogeneity vector autoregression model panel data |
| title | Factors of heterogeneity of mortgage refinancing in the Russian regions |
| title_full | Factors of heterogeneity of mortgage refinancing in the Russian regions |
| title_fullStr | Factors of heterogeneity of mortgage refinancing in the Russian regions |
| title_full_unstemmed | Factors of heterogeneity of mortgage refinancing in the Russian regions |
| title_short | Factors of heterogeneity of mortgage refinancing in the Russian regions |
| title_sort | factors of heterogeneity of mortgage refinancing in the russian regions |
| topic | mortgage refinancing mortgage housing lending monetary policy monetary easing mortgage refinancing channel regional heterogeneity vector autoregression model panel data |
| url | https://vestnik.guu.ru/jour/article/view/4664 |
| work_keys_str_mv | AT eagafarova factorsofheterogeneityofmortgagerefinancingintherussianregions |