Russia cuts state-backed mortgage rate, extends scheme

(Reuters) - Russian Prime Minister Mikhail Mishustin signed a decree cutting the state-backed mortgage rate and extending the programme, part of wider measures aimed at stimulating economic growth. Russia is grappling with the fallout from Western sanctions over what Moscow calls a special military operation in Ukraine to demilitarise its neighbour and rid it of extreme anti-Russian nationalism. The state-backed mortgage scheme that has helped support a construction boom in Russia had been due to expire on July 1. It will now run through the end of 2022 and the rate will be cut to 9% from 12%,...