The government plans to make mortgage loans even more affordable. The key goal of the Housing and Urban Environment national project may be to maintain the average rate on housing loans in Russia at 6.9% per annum until 2030, which is 1 pp. less than was laid down in the original version of the document. This initiative was discussed at a meeting with Deputy Prime Minister Marat Khusnullin, two sources close to the Cabinet told Izvestia.
This result can only be achieved through a comprehensive subsidy program. Therefore, the Ministry of Finance, the Ministry of Construction and DOM.RF were instructed to calculate the potential budget expenditures for the extension of preferential mortgage programs without changes (including for new buildings and for young families), provided that the amount of subsidies does not exceed 3% of the cost of loans, and the Central Bank rate is up to the end of the year will remain at the level of 4.5% and in the future will fluctuate within the range of 5-6%.
The representative of Marat Khusnullin confirmed to Izvestia that today the government is setting the task of reducing the weighted average mortgage rate, since such loans are a tool to improve the living conditions of citizens. At the same time, the preferential program for the purchase of apartments in new buildings should be extended, but it is too early to talk about specific conditions, he said.
Read more in the exclusive material from Izvestia:
Caught footage: the Cabinet of Ministers is discussing the reduction of the average mortgage rate to 6.9%
#government #plans #reduce #average #rate #mortgage #loans