The Ministry of Finance estimated the budget costs for the extension of preferential mortgages

The extension of preferential mortgage lending will require "insignificant" costs from the federal budget. This opinion was voiced to journalists by the Deputy head of the Ministry of Finance of the Russian Federation Alexey Moiseev.

"It depends very much on the key rate. Based on our forecasts for the rate, which I will not tell you, then there are insignificant expenses. I don't remember the exact figure, but there is something quite reasonable due to the fact that up to 8%, taking into account today's current rate," Moiseev said.

Recall that the preferential mortgage program was approved in Russia during the coronavirus pandemic in April 2020. Since then, it has been extended several times, the conditions have changed. So, initially the rate was 6.5% per annum, at the moment it is 7%. From December 31, 2022 to July 1, 2024, it has been increased to 8% per annum in accordance with the instructions of Russian President Vladimir Putin.

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