Banks issued AZN 107.8 million in mortgages under the fund programme in September, against AZN 25.1 million in August. The jump concerns monthly originations, not the entire mortgage market.
A month of strong activity
The CBA Mortgage and Credit Guarantee Fund table 2.9 reports September originations of AZN 107.8 million. Among the months from January through September 2026, only April was higher at AZN 112.7 million.
Monthly lending varied sharply: AZN 4.9 million in February, AZN 11.5 million in July and AZN 25.1 million in August. Comparing September with a single weak month therefore magnifies the apparent growth rate.
Originations and balances answer different questions
Banks’ total prudential mortgage portfolio increased from AZN 4.74 billion to AZN 4.84 billion in September. It covers a broader set of loans than new lending under the fund programme.
Subtracting the total portfolio change from fund originations would not produce a valid repayment estimate because the series have different coverage. One measures new programme business; the other records outstanding bank mortgage debt.
| Measure | August 2026 | September 2026 |
|---|---|---|
| Programme originations, AZN million | 25.1 | 107.8 |
| Average fund portfolio loan, AZN | 67,731.59 | 68,412.47 |
| Average fund portfolio payment, AZN | 483.89 | 489.28 |
| All bank mortgages, AZN billion | 4.74 | 4.84 |
The average payment approached AZN 490
Fund statistics put the average portfolio loan at AZN 68,400, its average term at 281.3 months, the interest rate at 6.39% and the monthly payment at AZN 489.28. These are portfolio averages, not terms for every new September mortgage.
The housing-market implication depends on whether originations remain strong. September’s lending supported funded demand within the programme, but does not establish an increase in total property transactions or apartment prices.
