Russian mortgage applications have spiked thanks to lower interest rates, Russia's Agency for Housing Mortgage Lending (AHML) reported Monday.
Borrowers had claimed 1.15 trillion rubles ($17.7 billion) at the end of October, an increase of 32 percent compared to 2015, AHML said in a statement.
The group credits the figure, which already equals the amount of credit taken out in 2015 as a whole, to falling inflation and lower interest rates.
Russia's Central Bank slashed interest to 10 percent in mid-September, but has warned economists not to expect further cuts until after the New Year.
Total borrowing is expected to hit 1.5 trillion rubles ($23 billion) by the end of 2016, returning to a pre-crisis high of 1.8 trillion rubles ($30 billion) by the end of 2017, AHML said.
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