Mortgage rates predicted to drop soon

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www.vsyako.netVitaly Motofoto: Eugene biyatov / RIA Novosti

In the near future Russia will develop a tendency to decrease mortgage rates. This opinion was expressed by Deputy Prime Minister, Vitaly Mutko during the meeting on realization of the project “Housing and the urban environment”, held on Friday, may 17, in Nizhny Novgorod. About it reports TASS.

“We are monitoring the situation and believe that in the near future to reverse the trend towards lower mortgage rates. Now the average rate in the country is more than 10 percent,” the official said.

He also noted that it is necessary to work to provide housing for privileged categories of citizens, including large families and orphans. “It is our obligations that we have to solve,” — said Deputy Prime Minister.

By the spring of 2019, the weighted average mortgage rate in Russia rose to 10.15 percent, the highest level since August of 2017. President Vladimir Putin at the end of February this year ordered the government and Central Bank to take measures to reduce the average mortgage rates to eight per cent per annum and below. To report on the actions taken to reduce the cost of mortgages, performers have until January 15, 2020.

Video, photo All from Russia.

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