Economist gives advice to Russians planning to buy an apartment with a mortgage
Economist Belyaev: Those planning a mortgage should save up before rates drop
Photo: Ekaterina Yakel / Lenta.ru
Until interest rates on loans in Russia have decreased, those planning to buy an apartment with a mortgage should in any case form a financial cushion, says Mikhail Belyaev, a candidate of economic sciences and financial analyst. He gave this advice in a conversation with Lenta.ru.
Reducing the key rate from 21 percent to 20 is the same as lowering the temperature from 100 to 90 degrees; the difference is imperceptible, the economist noted and called for waiting for a further reduction in the indicator by the Central Bank (CB).
In any case, you need to create a financial cushion, regardless of where it will go later. The rate will decrease, there will be favorable conditions - then you will be ready to take out a mortgage, and if these conditions are not created - this cushion will still not hurt you in order to solve some other vital issues and problems
Mikhail Belyaev economist
To create a financial cushion, the expert recommended methodically saving money. It has been established that 10 percent of earnings can be painlessly put aside at virtually any income level, he said.
"Plus the use of accessible financial instruments that exist now: these are bank deposits and individual investment accounts. You deposit 400 thousand - without any hassle or worry, you get 52 thousand back, that is, 13 percent of income tax," Belyaev concluded.
Following the June meeting, the Central Bank's board of directors reduced the key rate from a record 21 to 20 percent per annum. The head of the regulator, Elvira Nabiullina, emphasized that the option of a sharper weakening of the monetary policy was not considered at the meeting, since inflationary pressure on the Russian economy still remains significant.
Lenta.ru
