Gref outlined the period of reduce mortgage rates


www.vsyako.netHerman Graffoto: Eugene biyatov / RIA Novosti

Mortgage rates in Russia may be reduced to 8 percent per annum in late 2019 — early 2020. This was stated by the head of Sberbank German Gref in the “actors with Naila Asker-zade,” on the channel “Russia 1”.

“This (reduction — approx. “Of the”) maybe next year, maybe by the end of the year. Because the peak of inflation, I think, has passed, and not only I think, the Central Bank stated it”, — Gref said, answering the question about the future dynamics of interest rates on housing loans.

“Next year, if not next year, in 2021, I think it is really to see rates and 8 percent, maybe even lower,” — said the head of Sberbank.

Earlier in may, the imminent decline in rates on loans to buy housing predicted Deputy Prime Minister, Vitaly Mutko.

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 8 percent 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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