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Mortgage rates expected to drop below 10% by year-end - Russian Economy Minister

Affordability of housing purchases for the population has increased over the last decade, Minister of Economic Development Maxim Oreshkin said

NOVO-OGAREVO, September 23. /TASS/. Mortgage lending is expected to grow and the rate will decline below 10% by the end of the year, Russian Minister of Economic Development Maxim Oreshkin said at a meeting with President Vladimir Putin on Saturday.

"The latest rate is 11% but Sberbank and other major Russian banks initiated a major rate cut actually during the last month. Their rates have already declined below 10%. That is why I believe the actual rate will be less than 10% by the end of this year. In particular, this will make possible to boost lending volumes," Oreshkin said.

Affordability of housing purchases for the population has increased over the last decade, the minister added.

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Putin proclaims Odessa Russian city, challenges Ukraine's historical narrative

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No damage, casualties after drone attack over Russia’s Kursk Region

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Carlson may be recognized as foreign agent in US, says human rights activist

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West battlegroup destroys two Ukrainian drones, hit over 170 Ukrainian army’s facilities

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Ukraine says Western systems ineffective against Russia's electronic warfare

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Ukrainian army strikes own surrendering soldiers — POW

Andrey Babenko said that after a crash course in Britain he had been sent to the frontline near Liman

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Ukraine’s EU accession to require 20% increase in union’s budget — European Commissioner

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Switzerland unblocks Russia-related assets worth 290 mln Swiss francs

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US recruiting IS jihadists for terrorist attacks in Russia and CIS, says intel agency

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