quote of the day
This is how Neviolina treated the effect of preferential mortgage programs on the real estate market.
Low rates on such loans led to rising home prices, which effectively ate into borrowers' benefits, she said. And for those who could not take advantage of preferential programs, the purchase of real estate became even more profitable.
The head of the central bank believes that in order to develop mortgages in the market, inflation must be reduced and the preferred programs must be made more targeted. During the last 12 months, mortgage loans worth 5.4 trillion rubles were issued in Russia.