This article presents a comprehensive analysis of the current state and development prospects of the mortgage lending market and housing construction in the Russian Federation. The study is based on statistical data and the regulatory framework governing this sphere. The paper examines key factors affecting mortgage affordability, including the dynamics of the key interest rate, government support programs, legislative changes, and macroeconomic indicators. Special attention is given to analyzing the effectiveness of government measures to stimulate mortgage lending and their impact on the real estate market.