Russia predicted a record low mortgage rate

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www.vsyako.netPhoto: Anvar Galeev / TASS

Mortgage rate in Russia for 2020, could drop below historical for the country of at least 8.5 percent per annum. The domestic market of housing loans is transferred to the growth with record-low borrowing costs, said the report “Building.of the Russian Federation”, arrived in edition “Tapes.ru”.

According to analysts, state-owned companies, the growth of lending for house purchase began in January 2020 — volume feature of the mortgage increased by 8-13 percent compared with the figure for the first month of 2019, reaching 180-190 billion rubles. In quantitative terms, issued 75-80 thousand credits — about the same as last January. In “The House.of the Russian Federation,” noted that throughout 2019, the issuance volumes in quantitative terms, declined.

“After another reduction in the key rate of the Bank of Russia to the level of 6 percent in February 2020, reducing mortgage rates will continue,” analysts predict. They predict a decline in mortgage rates to 8.7 percent — the target level of the national project “Housing and the urban environment” — in the first half of 2020. In January, the average market rate in the primary market decreased to 8.85 percent, the secondary — up to 9 percent.

In “The House.RF” I believe that will have a positive impact on the growth of mortgage lending special lending programme with state support, including “Family mortgage” (within the program issued loans at 5 percent per annum and less families with two or more children). Furthermore, additional support for the housing loans market will provide the program of the far Eastern mortgage.

Earlier in February, interest rates on loans for housing in Russia is called crime. This opinion was expressed by Deputy Prime Minister Marat Khusnullin. The official stressed that the cost of the mortgage should be reduced.

Video, photo All from Russia.

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