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Mortgage interest rate must be lowered to 6-7 pct - Medvedev

November 01, 2011, 13:08 UTC+3
President also noted that interest rate subsidizing from the budget was possible
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BARNAUL, November 1 (Itar-Tass) —— Russian President Dmitry Medvedev believes a mortgage interest rate of six-seven percent is acceptable. "Mortgage must be more accessible – not 15 percent, but around six-seven percent," Medvedev said, when answering questions of students during his visit to Altai State University. He also noted that interest rate subsidizing from the budget was possible.

The president said that the preferential housing providing programme continued working, including in rural areas, and subsidies for loans were provided. It must be possible for a highly skilled specialist to receive housing, he noted. About 350,000 families have already received housing in accordance with the social village development programme, Medvedev noted, adding "there is nothing to be jealous of, everything is in your hands."

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