Penza, 28 April 2017. PenzaNews. The situation at the mortgage lending market in the Penza region by the end of 2016 causes moderate optimism. Such opinion was expressed by the governor Ivan Belozertsev when he was making a report at the 43rd regular meeting of the Legislative Assembly of the region on Friday, April 28.

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"The mortgage lending market in 2016 was characterized by monthly increase of the number of issued mortgages. In comparison with the 2015 year it increased by over 20%," the head of the region said.

He noted that by that moment the results of the pre-crisis period were not achieved.

"The average interest rate on mortgages in the Penza region in 2016 amounted to 12.4%, which is one of the lowest rates in the Volga Federal District. The interest rate decline will continue in the course of decline in inflation and the Bank of Russia key rate. This would increase the mortgage credit availability and enable more people to buy accommodation using this mechanism," Ivan Belozertsev added.