EDUARD OREMYAN SAYS REDUCTION IN MORTGAGE MARKET INTEREST RATES QUITE POSSIBLE
ARMENPRESS
MAY 3, 2010
YEREVAN
YEREVAN, MAY 3, ARMENPRESS: Reduction in the interests in the field
of mortgage lending is quite possible, Chairman of the Association
of Mortgage Market Participants Eduard Oremyan said today at a press
conference, held after the 4th annual meeting of the Mortgage Market
Participants. He mentioned that the interest rates have already
decreased as compared to the previous years.
He says this made banks reconsider the interests on mortgage loans
secured by their own resources. ‘The interests make 8.5-12%, however
2 years ago they made 18-20%,’ chief executive of the Association
of Mortgage Market Participants said. He stressed the time limits of
loans as an important precondition in this process.
He says reduction in the interests rates can be expected in the
loan market, as the market is currently growing. He also mentioned
that the interest rates will probably be reduced in case of creating
‘long-term money’.