Mortgages in most large banks have not become more expensive after the growth of the key

At the same time, the average market mortgage rate for the week exceeded 21% — the maximum value since 2018

Only two of the largest banks in the top 20 increased market mortgage rates after the key rate increase. Such data follows from the weekly report “Dom.RF” (from September 16 to 22), which was reviewed by the editorial board. The analysis takes into account the rates offered by the top 20 banks for issuing mortgages.

According to the report, during the analyzed week, mortgages rose in price in Sberbank by 0.7 percentage points. Now the minimum rates for market programs start from 21.3%.

Mortgage rates during this period were also increased by Uralsib — by 1.3 percentage points. Now the lower limit for market programs starts from 20.69%.

At the meeting on September 13, the Central Bank raised the key rate by 1 percentage point, to 19% per annum. This is the second consecutive rate increase, in July it was increased by 2 percentage points, from 16% to 18%.

The average market mortgage rate for the week exceeded 21% — the maximum value since 2018. According to “Dom.By September 22, the average rate on the primary market reached 21.27%, having increased by 0.39 percentage points over the week. The average rate on the secondary market increased by 0.46 percentage points over the week and amounted to 21.3%.

Experts interviewed by RBC-Real Estate assumed that after increasing the key rate to 19%, some banks would refrain from raising mortgage rates or would not announce it directly. According to analysts, this is due to the fact that mortgage rates are already prohibitive. “The current market mortgage rates have already laid down a certain tightening of monetary policy,” explained Igor Dodonov, an analyst at Finam Financial Group.

This is confirmed by other market participants. “For several months now, we have been observing a decrease in the number and pace of issuing market mortgages, thus changing the key rate by 1% will not have enormous consequences for the real estate market,” said Dmitry Efimov, Deputy Head of Commercial Director at PIONEER.

Founder of the Best-New Building company and the service bnMAP.pro Irina Dobrokhotova believes that a change in market conditions will be required to revive demand. “I believe that some of the clients will take a break and will not rush to purchase an object and enter into transactions. They will wait for better times and more interesting credit conditions or, for example, a decrease in the value of real estate,” Dobrokhotova predicts.

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