New mortgages to top a million in 2014

New mortgages: Russia’s Central Bank is predicting that more than one million mortgages will be approved this year. The director of its Banking Regulations Department Vasily Pozdyshev said that he expected a significant increase on the 825,000 mortgage loans issued last year, and that the Central Bank had calculated that the mortgage market was currently worth RUB2.7tr. ITAR-TASS