The Ministry of Construction, Housing and Utilities on behalf of the Russian President is working to reduce the mortgage rate down to 7-8% per annum, RNS news agency reports citing the press office of the Ministry.
“The President has set a task to reach a mortgage interest rate of 7-8%, and Russian Construction Ministry is working to accomplish the task,” the press office said.
Today, the President issued decrees on “National Goals And Strategic Tasks for the Development of the Russian Federation Until 2024”. A number of them were devoted to housing construction. In particular, Vladimir Putin has instructed to reduce the mortgage rate to at least 8%.