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Vladimir Putin expects to reduce mortgage rates - EastRussia | Far East

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Vladimir Putin expects to reduce mortgage rates

Vladimir Putin expects to reduce mortgage rates
Photo: www.kremlin.ru
Special project Financial literacy

Russian President Vladimir Putin said he expects a reduction in mortgage rates by the end of the year. In his opinion, this could happen after inflation.

Vladimir Putin spoke about this in a working meeting with the head of VTB Bank Andrei Kostin. The latter assured that there are no “soap bubbles” in the field of mortgage lending. Over the first half of the year, the bank's mortgage portfolio grew by 300 billion - this is 120 – 130 thousand new loans.

As noted on the Kremlin’s website, in June, the average mortgage rate was 9,9%. Now the Central Bank has begun to reduce the rate, so VTB is confident that they will go down before the end of the year.