You are here

Russians rushing to lock in mortgages

They fear borrowing costs will rise further after the rouble's weakness prompted the central bank to increase interest rates

BT_20141225_RUS25_1427507.jpg
SIGN OF THE TIMES: The rouble's rout has prompted Russians to begin buying luxury goods; the real estate market is also getting a boost even as mortgages become more expensive.

Moscow

RUSSIANS are racing to take out mortgages on concern that borrowing costs will rise further after the rouble's weakness prompted the central bank to increase interest rates.

The number of people applying for mortgages at Bank VTB 24, a retail unit of state-controlled VTB

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom