Russians warned of a possible rise in mortgage

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Photo: Igor Charsiew / “Kommersant”

Mortgage rates in Russia can be increased. This opinion was expressed by Deputy head of the Ministry of construction Nikita Statesin held on Wednesday, September 5, the meeting of the Presidium of the public Council of the Ministry, RIA Novosti reported.

According to officials, the housing loans may rise due to financial instability and the prospects of increasing the key rate of the Central Bank.

In July 2018, said Stasyshyn, the weighted average minimum mortgage rate on the primary market amounted to 9.09 percent. “But it should be noted that later in the day amid uncertainty in the financial markets we see that after the change of the key interest rate mortgage rate will go up again, and some banks have already reacted to it”, — quotes Agency the official.

On 4 September the head of the Central Bank Elvira Nabiullina said that the regulator does not exclude the possibility of interest rate hikes in the foreseeable future. “We see increased volatility in the financial markets and not only in Russia but also in the world. This is due to external factors. Of course, we will take into account when making decisions”, said Nabiullina.

Earlier, the Central Bank recorded an increase in mortgage rates: according to the regulator, last July, it increased for the first time from January 2018 up to 9.57 percent per annum. In June, the rate reached a minimum and made up 9.48 percent, in may it was equal to 9.56 percent in April — 9,57, in March of 9.64 in February of 9.75 in January at 9.85 percent.

Video, photo All from Russia.

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