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Sberbank head believes mortgage rates have potential for further decline

June 01, 18:15 UTC+3

"It is already a low level of rates, but the inflation will fall and rates will fall, of course, this is not the limit," Sberbank Head Herman Gref said

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ST.PETERSBURG, June 1/ TASS / Mortgage rates have the potential for further decline, said Sberbank Head Herman Gref at the sidelines of the 2017 St. Petersburg International Economic Forum (SPIEF) on Thursday.

"We will be lowering all basic mortgage rates starting June 5. We have a historically low rate of 9.5% for young family mortgage. It is already a low level of rates, but the inflation will fall and rates will fall, of course, this is not the limit," Gref said.

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