Nabiullina: Russian mortgages can fall to 7-8% with 4% inflation

The Russian mortgage rates will fall following inflation and can reach 7–8% with a 4% inflation in several years, Chairwoman of the Russian Central Bank Elvira Nabiullina said in a speech at the Federation Council, parliament’s supreme chamber.

"The mortgage rates will fall following inflation, the decline of inflation, and as we’ve calculated, a mortgage rate will indeed probably be 7–8% in the prospect of several years if inflation is 4% and there are no additional risks," the Prime news agency cited her as saying.

"We think, 7–8% are realistic rates indeed," Nabiullina added.