Official: Govt, cbank to decide on 6.5% mtge loans until July 1

BLAGOVESHCHENSK, Mar 25 (PRIME) -- The Russian government and the central bank will decide on prolongation of a 6.5% mortgage program for each region individually until July 1, Deputy Prime Minister Marat Khusnullin told reporters on Thursday.

“The situation varies by the region. We will analyze everything, and we will most likely offer a differentiated approach to the support. We will not prolong the cheap mortgage in the regions with overheated demand until adequate supply emerges,” he said.

“This has been our approach so far. We are studying the situation together with the central bank and the Construction Ministry, and we will decide on each region until July 1, and decisions will likely be individual.

“We think that the mortgage should definitely be prolonged, but we are concerned with the situation when prices grow rapidly in the regions where supply is limited. We cannot allow prices to grow further without adequate supply.”

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