The Russian Finance Ministry expects to reduce mortgage rates by year-end

Russian Finance Ministry expects to reduce mortgage rates in the country by the end of 2020 to 7-8%, as reported by the Deputy head of the Ministry of Finance Alexey Moiseev, reports RIA Novosti.

According to Moses, in the project Department recorded such a decline in interest rates , therefore, the Finance Ministry expects the yield mortgage rate in the country at the level of 7-8%.

“In fact, lower rates now very significant happens,” — he answered the corresponding question of journalists.

the Official said that now the country people “in a state with a normal salary, with a normal ratio of income to loan now to rates below 9%,” and the Ministry of Finance will support this trend.

As reported earlier, the head of the Bank of Russia Elvira Nabiullina on 7 February stated that the interest rate of the Russian Central Bank reflects the cost of money in the country.

Loans to enterprises and households, logically, will start to become cheaper, and as for mortgages, the rates are already at historic lows, this is not the limit, said the head of the Central Bank of the Russian Federation.