Country's largest bank raised mortgage rates

This week, banks began raising mortgage interest rates, following the increase in the key rate on October 27 to 15%.

VTB will now issue a mortgage at 16.6% if the down payment is more than 20.1% of the cost of housing and at 17.6% if it is less than the specified share. If there is no insurance, the rate will be 18.6%.

At Otkritie Bank, the minimum rate was 16.99%; at Alfa-Bank - 16.69%; at Uralsib - 16.99%; at Sovcombank - 16.4%.

The largest bank in the Russian mortgage market, Sberbank, today, November 3, raised the primary mortgage loan rate to 15.6%. With a minimum down payment, the rate will be 17.1%.

Until July 1, 2024, the country has programs with state support, the rates set by the authorities. As before, the rate for preferential mortgages is 8%, for family mortgages - 6%, and for IT specialists - 5% per annum.

As Bashinform News Agency reported, State Duma deputies are proposing an alternative to the complete closure of preferential mortgage programs, which the financial authorities insist on, fearing an excessive burden on the budget (119.4 billion rubles were planned for compensation to banks for the next year, and due to an increase in the key rate, the amount increased to 453.8 billion rubles). There is a proposal to leave the program only in regions with low demand for housing or to increase the preferential rate.

Author: Elina Akhmetova