Mortgage rate in Russia fell to a historic low

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www.vsyako.netPhoto: Oleg Karsaev / “Kommersant”

Average mortgage rate in Russia fell in may 2020 to a historic low of 7.4 percent. This was announced by the head of the Central Bank Elvira Nabiullina, RIA Novosti reported.

About a third of home loans last month were issued in the framework of the program of preferential mortgage at 6.5 percent. It was taken for the purchase of apartments in new buildings.

According to the regulator, the weighted average interest rate on mortgage loans in April fell by 0.3 percentage points to 8.32 percent per annum, which was also a record.

Earlier it became known that some Russian banks have begun to refuse customers mortgage. Despite the increased demand among the borrowers, the failure rate in private financial institutions exceeded 40 percent.

Video, photo All from Russia.

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