The government decided not to renew the program of the Mortgages of the mortgage

The government refused to extend the program for subsidizing mortgage loans. This was stated by First Deputy Prime Minister Igor Shuvalov at a meeting with President Vladimir Putin.

Igor Shuvalov , Deputy Prime Minister, Quote for Interfax:

- with a sufficiently serious stabilization in the financial market, with the low inflation that we have after 2016, the government decided that we will not continue this program because now commercial banks offer mortgage rates from 12 and below percent, and as part of the anti -Crisis plan, we would just have to seek for the borrower to be no more than 12 %.

At the same time, representatives of the United Credit Bureau found that in 2016 the number of mortgage loans, overdue by more than 90 days increased by 20 %. They also suggest that in 2017 these indicators will grow.