Financial news

Shuvalov: the level of mortgage expiration won’t exceed 5% this year

07 апреля 2009 г.

The first Vice-Premier Igor Shuvalov considers that the level of mortgage expiration won’t exceed 5% at the end of 2009.

“If the situation develops the same way as it does today, the level of expiration won’t exceed 5% at the end of the year ”, Shuvalov said.

He also reported that the level of mortgage expiration doesn’t exceed 2-3% in whole now.” In certain mortgage institutions it reaches 4 % but, on the whole, the situation is calmer than it was predicted at the end of 2008”.the first Vice-Premier concluded.

Previously the first Vice-Chairman of the Central bank of the Russian Federation Gennady Melikyan reported to the press that the level of overdue liabilities in the Russian Federation banking system of natural person mortgage as of   March 1 of 2009 was 4,1% and body corporate mortgage – 3,1%.

“At the beginning of 2009 the problem of overdue liabilities was increasing relatively fast and the greatest rates of its increment occurred in January of 2009.Currently the situation in banking system has improved but it doesn’t mean that we should relax ”, Melikyan noted.
 

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