Mortgage rates reached a minimum

Inform me about how the Bank of Russia, mortgage rates fell to a record-low levels - up to 12.4 percent for ruble loans and 10.7 percent for foreign currency. The last time this level of interest rates observed in the first quarter of 2008. According to the Central Bank, foreign exchange rates on mortgage loans in February 2011 also showed a new low - 10.7 percent. At this favorable for borrowers amid falling interest rates continue to rise and mortgage lending. According to the Central Bank, January-February 2011 banks have issued more than 40,000 loans totaling $ 55.2 billion rubles, which is twice higher than in 2010. "Russian banks are now very high liquidity, because the last two or three years because of the financial crisis, they were given far less credit, while they have attracted a considerable amount of deposits. Therefore, and because banks are interested in supporting real estate markets, mortgage rates and declining "- said in an interview with the portal Bank.ru Jason Horowitz, a senior analyst at Alfa Bank. "We expect that rates will rise this year, however, it is difficult now to say exactly when it will happen" - said the expert, talking about how many times can last in Russia during the "minimum" mortgage. Until now, for the ruble mortgage was the minimum level in December 2010 - 12.5 percent. With regard to currency mortgage, then the previous minimum value was observed in April 2010. Then the figure was 10.9 percent.