“Sberbank, Russia’s largest mortgage lender, has significantly raised mortgage rates for the second time in a month – up to 28.4%.”, — write: www.epravda.com.ua
“Sberbank”, the largest mortgage lender in Russia, has significantly raised mortgage rates for the second time in a month – to more than 28%.
This is reported by the Russian publication The Moscow Times.
Thus, since November 15, they have increased by 3.5 percentage points, which has led to new record indicators: the minimum rate on the secondary market is now 28.1%, on the primary market – 28.4%. In general, since the beginning of October, mortgage rates at Sberbank have risen by 7.4%.
The Russian market has not seen such high rates since the early 2000s, when inflation in Russia was double-digit, and the key rate of the Central Bank exceeded 20%. The reason for such changes in “Sberbank” is explained by the general increase in key rates of the regulator.
But even at current rates, about 40% of all mortgages issued are still market-rate, although the total volume of loans issued has decreased by 20%.
According to the Central Bank of the Russian Federation, in September, the issuance of market mortgages decreased by 14.3%, to 103.7 billion rubles, which accounted for more than 70% of all housing loans for the month.
After changes in preferential lending programs, starting in July, the volume of mortgage issuance fell by almost half.
We will remind:
The Central Bank of Russia decided to raise the key rate immediately by 2 percentage points – to a record 21% per annum.