First Deputy Prime Minister Igor Shuvalov February 1 President's meeting with members of the government said that the mortgage program with government support this year will not be renewed.

"Seriously enough to stabilize the financial market at the low inflation that we have at the end of 2016. The government has decided that we will continue this program will not, because now offer commercial banks have mortgage rates of 12% and below, "- said the first vice-premier.

According to him, it has already managed to achieve that for the borrower's rate was less than 12% in the framework of anti-crisis plan.

"When deciding on the subsidies, the bank offers 15% to 20% per annum. It was almost impossible, "- said Shuvalov.

He added that many consider this program one of the most effective anti-crisis plan.

"According to our obligations until we generally believe that will not spend more than 17 billion rubles, and the property was acquired in new buildings of about 25 million square feet. m ", - the first vice-premier said.

He expressed hope that this year, together with a decrease in the key rate will be reduced and interest rate of the Savings Bank, "VTB 24" and other commercial banks, according to RIA "Novosti".

How to write Internet-portal "Kuban 24", the program "Mortgage with state support" was adopted in March 2015. Prime Minister Dmitry Medvedev signed a decree on March 1, to extend the mortgage subsidy program in the primary market before the end of 2016. At the same time subsidies to banks to cut planned. Minister of Construction and Housing Mikhail Men March 15, 2016 reported on the conditions under which banks will be able to issue a mortgage at 12% per annum without state support.