Housing Mortgage Lending Russian

Average mortgage rates continued to rise in Russia *. Over the past week (from February 27 to March 2, 2009) rates on ruble loans changed 0.13%, rates for dollar loans has changed 0.02%. Depending on the time crediting the following changes: * The ruble-denominated loans term loan of up to 5 years the rate has changed by 0.13 percentage points – 15.16% to 15.29% * The loan term of 5 to 15 years the rate has changed by 0.11 percentage points – 15.64% to 15.75% * The term credit from 15 to 30 years the rate has changed by 0.13 percentage points – 15.26% to 15.39% Currency Loans (U.S. $) * When the term loan of up to 5 years the rate has changed by 0.01 percentage points – 13.19% to 15.20% * The loan period from 5 to 15 years of interest rate unchanged at 0.01 percentage points – 13.21% to 13.22% * The loan term from 15 to 30 years the rate has changed by 0.03 percentage points – 13.63% to 15.66% * Market Index mortgage rates (IRIS), calculated from the rates of the program for purchase second homes in apartment buildings of 50 leading Russian banks. Of 'the regional agency for Housing Mortgage Lending Russian housing need 5-10 years to restore the pre-crisis levels of prices. This is evidenced Deputy Prime Minister and Finance Minister Alexei Kudrin.

"It's not restored, these prices do not come back, and this boom in the next 5-10 years will not be ', – commented the official, adding that before the crisis, the national housing annually added to 50-100% of intrinsic value. Russian housing need 5-10 years to restore the pre-crisis levels of prices. This is evidenced by the Vice Prime Minister and Finance Minister Alexei Kudrin. "It's not restored, these prices do not return, and a boom in the next 5-10 years will not be ', – commented the official, adding that before the crisis, the national housing annually added to 50-100% of intrinsic value. 'Price per square meter apartment in a 15-20 non-elite thousand dollars has been shaken up, overheated. Now, when excitement was sleeping, there was a correction in prices. And it is clear that these prices will not return ", – noted in this connection, Alexei Kudrin.