As soon as a result of the development program mortgage rate on mortgage loans should be reduced to 7%. The statement was made by Deputy Prime Minister Alexander Zhukov on the radio channel «Russia». Now the average rate is 13%.
According to Zhukov, the establishment of the market of affordable housing includes the development of the mortgage program designed for 2006-2007. Vice Prime Minister explained that the reduction in interest rates to be achieved through state subsidies. «Will subsidize the initial payment on mortgage loans. Primarily this will be done for young families and young professionals », - he added.
