The Government from the New Year turns a program for subsidizing a mortgage bet up to 12%

Extension of the subsidy program
mortgages in the current form for 2017 are not required, but to
The end of this year, perhaps, some new support measures will be formulated. This was announced on Wednesday by reporters by the Minister of Construction and Housing and Public Utilities Mikhail Men.

"In the form in which there is subsidies - up to 12%, -
today it makes no sense, because, in fact, market
Bedes taking into account the key reduction are approaching 12%, ”the minister said.

- Experts told about the risks to take or not take a mortgage before the end of the year

Nevertheless, in some form, the market support, according to him, will continue in the new year:
"We will support the infrastructure support for this program, but we will
still look for opportunities, offer the government certain measures
Mortgage support, ”Men added.

Earlier, market experts gave the forecast that if the state support program is canceled in 2017, the rate is stabilized at the level of 13-13.5% per annum - that is, it will approach the average rate on secondary housing loans. However, by 2018, if the Central Bank continues to reduce the key rate, and inflation will slow down, the average mortgage rate may drop to 10% or even lower.

Recall that in March 2015, the government launched a mortgage market state support program, which involves subsidizing a housing rate on housing loans up to 12%. In February of this year, the program was extended for the whole of 2016. According to the Ministry of Construction, every third apartment in Russia in 2015 was purchased using this program. According to Nafi experts, this year the subsidy program will provide a little less than 40% of all mortgage issues and by the end of the year will be completed by almost 100% (950 billion with a limit of 1 trillion rubles).