Russian banks began to lower mortgage rates

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www.vsyako.netPhoto: Evgeny Pavlenko / Kommersant

Several major Russian banks from 20 of may reduced mortgage rates. This is stated in an analytical article published on the website of the consulting company Frank RG.

Russia started the trend to reduce the price of housing loans, which was before the pandemic, experts state. They note that banks have begun to reduce rates on their own programs as preferential mortgage, there are significant limitations. According to Frank RG, over the last week, mortgages have become cheaper in banks “URALSIB”, “Home.of the Russian Federation”, “Opening”, to Sovcombank, Rosselkhozbank, Sberbank and Gazprombank.

Analysts believe that banks have to reduce interest rates on private mortgage programs, as not all properties fall under the program of mortgage with state support. “The important role played by signals of the regulator (Central Bank — approx. “Of the tape.ru”), including plans for further reduction of the key rate and Bank liquidity”, — specify in the company. In addition, lower mortgage rates facilitated by the development of online technologies give money — they reduce the cost of banks making loans.

However, according to experts, the April failure to grant a mortgage will be difficult to fully compensate for the decline in interest rates. “When people are in conditions of high uncertainty regarding future income, they don’t want to take out a mortgage, even on beneficial conditions”, — stated in the article.

Earlier in may it became known that in Moscow on the background of reducing demand for housing, developers began instead huge discounts to offer customers an almost free — but only in the first year of the mortgage.

Video, photo All from Russia.

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