The Agency for Housing Mortgage Lending (AHML) reported that by the beginning of winter, most banking organizations raised mortgage rates.
As a result, the average cost of such banking products rose to 12.4%, while the bankers themselves claim that the real rate of housing loans exceeds this figure and amounts to 13%.
Among the leaders who increased the average price of mortgage loans by 05-1 p.p.P. (and for individual programs, rates rose by 2.5 percentage points.P. (this, for example, concerns lending to new buildings)) turned out to be Sberbank and VTB24. They are being “caught up” by Sviaz-Bank, UralSib, Bank Vozrozhdenie. In total, 19 different credit institutions distinguished themselves by an increase in the price of mortgages. Moreover, the series continues to raise rates in the current month. So, in UniCredit Bank, ruble loans for the purchase of housing rose to 13.5%.
According to the aforementioned agency, the increase in rates is more modest. According to his data, the average mortgage rate increased by only 0.1 percentage points.P., which is 12.4% per year (these indicators are only 0.7 p.p.P. higher than those of the previous year).
Bankers, according to a survey by RBC daily, call completely different numbers. According to their sources, the real market rate on mortgages today is 13%. As for the data provided by AHML, they simply reflect those loan programs that were approved at the end of summer or at the beginning of autumn. In addition, bankers note that the rise in the cost of mortgage lending rates has also affected consumer demand – the number of mortgages is starting to decline.
Both financiers and AHML agree on one thing: the reason for the growth in mortgage rates lies in the rise in the cost of funding. In their opinion, the Russian credit market is growing at a very high rate this year. At the same time, the situation in the world economy is in no way characterized by the definitions of “calm” and “stable”. All this together significantly affects the availability of resources for financial institutions, resulting in tension with liquidity.
For a huge number of Russians, mortgages are almost the only way to improve their living conditions, without having significant savings for this, or by selling existing housing also in order to improve living conditions. In Moscow, there is a tendency to increase the down payment precisely at the expense of funds from the sale of existing housing. Behind the rise in interest rates on mortgages, experts see a threat to the popularity of mortgages. People can simply stop striving to improve their living conditions, and begin to be content with what they have.