YEREVAN. - Armenia already has mortgage loans for 20-25 years, Chairman of the Central Bank of Armenia (CBA), Arthur Javadyan, said in the parliament Tuesday at the discussion of the Armenian State Budget Performance for 2015.

Responding to the question of one of the MPs as to why the republic has no such available mortgage like in the U.S., Javadyan said that state support measures are taken for that there.

“If you are implying what the Fannie Mae or Freddie Mac corporations offer, the Central Bank applies stimulating policy there. We are also making attempts in that direction. We remove the currency risks from young families by 2-3 programs. We also refinance loans and restrain discount rates. Mortgage loans for 20-25 years are available already now,” Javadyan stated.

Macroprudential tools are also used, for instance lowering norm coefficients of risks for mortgage loans in Armenian drams and raising those in dollars.   

That is, it is more beneficial for banks to give mortgage in the national currency, Javadyan added.