guuvestВестник университетаVestnik Universiteta1816-42772686-8415State University of Management10.26425/1816-4277-2023-8-172-182guuvest-4664Research ArticleФИНАНСЫ И БАНКОВСКОЕ ДЕЛОFINANCE AND BANKINGФакторы гетерогенности рефинансирования ипотеки в регионах РоссииFactors of heterogeneity of mortgage refinancing in the Russian regionshttps://orcid.org/0000-0003-0798-7111ГафароваЕ. А.GafarovaE. A.

Гафарова Елена Аркадьевна, канд. экон. наук, главный экономист

г. Уфа

Elena A. Gafarova, Cand. Sci. (Econ.), Head economist

Ufa

gafarovaea@mail.ruОтделение – Национальный банк по Республике Башкортостан Уральского главного управления Центрального банка Российской Федерации (Банк России)РоссияDivision – National Bank of the Republic of Bashkortostan of the Ural Main Branch of the Bank of RussiaRussian Federation20232109202308172182Copyright © Гафарова Е.А., 20232023Гафарова Е.А.Gafarova E.A.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://vestnik.guu.ru/jour/article/view/4664

В период мягкой денежно-кредитной политики в Российской Федерации отмечался неоднородный региональный рост рефинансирования ипотечных кредитов. Межрегиональные различия рефинансирования ипотеки объясняются социально-демографическими, экономическими и финансовыми показателями субъектов Российской Федерации. В статье находит подтверждение гипотеза о гетерогенности влияния снижения средней процентной ставки по ипотечным жилищным кредитам на рефинансирование на основе оценок по моделям векторной авторегрессии на панельных данных для групп российских регионов по уровню среднедушевых денежных доходов населения и средних цен на вторичное жилье. Наибольший прирост рефинансирования при снижении ставок по ипотеке имеет место для групп регионов с высоким и средним уровнями доходов и ликвидным рынком жилья. При смягчении условий ипотечного кредитования регионы с низким уровнем среднедушевых денежных доходов населения получают наименьшую выгоду от рефинансирования ипотеки.  

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.

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The authors declare that there are no conflicts of interest present.