The share of preferential mortgages in the primary market exceeded 90%

The share of preferential programs in mortgage issuance in the primary housing market has exceeded 90%, i.e. now it lives almost entirely at the expense of subsidies from the state, Alexei Yakovlev, Director of the Financial Policy Department of the Ministry of Finance, told Izvestia. Before the radical tightening of monetary policy (MP), the share of preferential programs in mortgage issuance in the primary market was 80-85%.

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The Ministry of Finance believes that the optimal share of preferential programs in the issuance of mortgages in the primary market - is 25%. However, according to him, to reduce the share from the current 90%, rates on preferential programs are not planned to raise. The Department will work within the parameters that have already been fixed, said Alexei Yakovlev.

He added: as for the market rates, now to normalize the situation, it is necessary to cool down lending - to create conditions for reducing the key rate faster.

Read more in the exclusive material "Izvestia":

Apartments under the key: the share of preferential mortgages for new buildings has exceeded 90%