The family mortgage rate for borrowers with children from six years old can be doubled, up to 12%, to make the mortgage more targeted and reduce the burden on the budget.
“The family mortgage rate after July 1, 2024 for families with children over six years old can be increased to 12%. This is one of the options that is currently being discussed when developing proposals in connection with the extension of the program until 2030. On the one hand, this level will allow you to cut off borrowers who purchase real estate for investment purposes. On the other hand, it is necessary to reduce the share of subsidized mortgages in new loans in the primary market,” the Izvestia newspaper writes, citing sources close to the Ministry of Finance of the Russian Federation.
According to one of the newspaper’s interlocutors, such a rate is being discussed for the entire period up to 2030.
Earlier, the Free Press wrote that the share of preferential mortgages in the primary market may decrease to 25 percent.
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