Russian banks began to revise the terms of mortgage programs after the Central Bank raised the key rate to 7.5%. Serving loans has become more expensive in Rosselkhozbank and Metallinvestbank, MTS Bank, Sovcombank, Transcapitalbank (TKB) and Ak Bars intend to raise rates from November, Alfa-Bank also plans to take a similar step in the near future, RBC found out.
Thus, rates in MTS Bank will rise by 0.6 pp. On October 29, the minimum rate on mortgages for new buildings was 8.05% per annum, and on loans for the purchase of finished housing – 8.25%, according to the bank’s website.
In “Absolut Bank” rates by mid-November will increase by 0.5 pp. The changes will not affect programs with state support, said Deputy Chairman of the Board Anton Pavlov. Now apartments in a new building and housing in the secondary market are proposed to be taken at 9.59% per annum.
In Rosselkhozbank since October 27, rates on mortgage products have increased from 7.5 to 7.95%, followed by 0.5 pp changed the conditions by Metallinvestbank, where the rate is now 10.79%.
Some banks are not yet revising mortgage rates. In particular, Promsvyazbank, Bank Saint Petersburg, Raiffeisenbank, Otkritie and VTB are not going to raise rates in the near future, RBC learned. Sberbank and other large credit institutions did not respond to the publication’s request.
On October 22, the Central Bank increased the key rate by 75 bp at once. to 7.5% per annum – a record level since the end of July 2019.The regulator made a similar decision against the background of the continuing acceleration of inflation, which reached 7.78% in annual terms by October 18.
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