The Ministry of Finance announced the absence of plans to raise the rate on preferential mortgages
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The mortgage rate on primary housing with state support is not planned to be raised after an unscheduled increase in the key one, it will remain at the level of 8%, reported “Izvestia” in the Ministry of Finance. On August 15, the Bank of Russia raised the key rate by 3.5 percentage points at once, to 12%, “in order to limit risks to price stability.”
On raising the key rate Bank of Russia announced following an unscheduled meeting. The rate was increased from 8.5% to 12%. For the last time her raised so sharply only on February 28, 2022 – from 9.5% to 20%. Following the increase in the rate, the conditions for preferential mortgages became tougher. The mortgage rate was raised from 7% to 12%.
Later, a gradual reduction of the key rate by the Bank of Russia followed. By June it was reduced to 9.5%. In September, the rate was set at 7.5%. At the same time, interest rates were also reduced under the state program – to 9% in April and to 7% in June.
According to the Bank of Russia, the volume of loans to the population increased by 529 billion rubles in July. (up to 30.5 trillion rubles), or by 1.8% (against 2.1% in June). The main source of accelerated growth was state-supported mortgages, whose volumes grew by 12% in July (mortgage volumes at market rates decreased by 7%).
More details – in the material “Kommersant” “Preferential mortgages and rising consumption accelerate the pace of lending”.
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