NOSTROY President Glushkov said that the preferential mortgage rate could rise to 12.5%
Russia is discussing an increase in the rate on preferential mortgages to 12.5 percent per annum. The president of the National Association of Builders (NOSTROY) Anton Glushkov warned the residents of the country about this at a meeting of the commission on pricing in construction and the technological and price audit of the Public Council under the Ministry of Construction of Russia, reports Financial One.
Glushkov explained that a possible change in the rate is related to inflation estimates in 2022. “We have an analytical report that the forecast inflation rate for 2022 should be 25 percent. Therefore, against the backdrop of inflation, when we are talking about a mortgage rate of half the inflation rate, I think that this is a good enough value that will make mortgages at least attractive,” he explained.
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Now in Russia there are several preferential programs for purchasing housing with a loan: a mortgage for new buildings at seven percent, a family mortgage at six percent, a rural mortgage at three percent, and also a Far East mortgage at two percent. In February, experts from the agency Est-a-Tet said that the state preferential program is the most profitable way to get a mortgage.
Earlier, the head of the State Duma Committee on the financial market, Anatoly Aksakov, called preferential mortgages an effective measure to support citizens and the country’s economy. He proposed extending the program for at least three years.
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