Putin proposes to reduce preferential mortgage rate to 7 percent

Russian President Vladimir Putin has proposed reducing the rate under the preferential mortgage program for new buildings to 7%. He said this during speeches Petersburg International Economic Forum (SPIEF).

“I think it is possible to lower the preferential mortgage rate once again. Up to 7% now,” said the president.

Talking about the five-month state budget of this year, the president noted that this was achieved with a surplus of 1.5 trillion rubles, and the consolidated budget by 3.3 trillion rubles. By the end of the year, according to his forecast, Russia’s state budget will be run with a surplus of 3 trillion rubles.

“socialbites.ca” leader broadcast online Speeches of Russian President Vladimir Putin at SPIEF.

According to Nikita Stasishin, Deputy Minister of Construction and Housing and Utilities of Russia, the volume of mortgages issued in Russia in April-May, taking into account the increase in the key interest rate and changes in mortgage conditions collapsed increased by 70% compared to the same period last year. But today, according to him, the situation regarding the issuance of mortgage loans is slowly recovering, against the backdrop of lowering the preferential mortgage rate for new buildings from 12% to 9% in May.

Source: Gazeta


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