Mortgage collapses: HMLA going to raise interest rates for banks

Nedvizhimost07-07-2008 Mortgage collapses: HMLA going to raise interest rates for banks Mortgage Agency (HMLA) is preparing to abandon the low interest rates. Institute of the Russian mortgage, which implements the program "Affordable Housing" and offering the lowest interest rates banks on borrowed funds is about to start work at a loss. Director of Communications Department HMLA Anna Yartseva in an interview with our portal stated that "the reasons for which the agency could raise the stakes - are obvious. They lie in the macroeconomic plane: a few times over the last year the central bank raised the refinancing rate, increases the cost of all borrowing, and reduced maturity of borrowings. If the threshold is close to breakeven agency Ground Zero, it is entitled pursuant to its statutory objectives to consider increasing interest rates. " Currently, the agency buys mortgages loans with interest rate at the time of the loan. For the final borrower a new scheme of HMLA with banks means that the interest rate on his loan may change depending on market conditions. This percentage may be revised upward. On how many of HMLA yet say. There's just explain that the banks that lend Standards Agency, it will offer to use a new tool - forward contracts.