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Mortgage loans to be affordable on market conditions — Bank of Russia

"And the most important is not the mortgage loan affordability, the rate level, but housing affordability for the people," Governor Elvira Nabiullina stressed

MOSCOW, November 19. /TASS/. Mortgage loans should be affordable on market-based conditions, Governor of the Bank of Russia Elvira Nabiullina said at the plenary session of the State Duma, the lower house of the Russian parliament.

"Concerning whether mortgage loans are affordable or not, our common task is that loans, including mortgage loans, are affordable market-based, without costly budgetary programs. And the most important is not the mortgage loan affordability, the rate level, but housing affordability for the people," she stressed.

There is a need to think of growing affordability of housing for the people and the housing demand should not result in the price hike, Nabiullina noted.

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Central Bank of Russia

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