Mortgage rate may be below level of 10% in second half of 2019

UFA, 22 July 2019. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

Russian President Vladimir Putin announced a reduction in the level of the mortgage rate below 10%. According to the head of state, who refers to experts, this can happen in the second half of 2019.

“Now the Central Bank has lowered the key rate and immediately mortgage rate went down a little”, the Russian President explained at a meeting with the workers of the Magnitogorsk Iron and Steel Works, reports TASS. “Now it is about 10%, but, according to expert estimates, in the second half of this year the rate may fall below 10%.”

According to Vladimir Putin, the government and the Central Bank face the task of reducing the mortgage rate below 8%. However, the situation largely depends on many indicators, including macroeconomic ones.

Today, about 45% of Russians are trying to solve the housing problem with a mortgage.