Starting from July 2, Sberbank will increase interest rates on major mortgage programs by 1.3 percentage points. The minimum rate will be 19.5% per annum. Interfax writes about this with reference to the bank’s press service.
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The increases are associated with an increase in OFZ yields against the background of a high key rate of the Central Bank and will not affect programs with state support, the report says. According to previously signed loan agreements, the rate will not change, the bank promised.
The minimum rates for the basic mortgage program will be:
- For mortgages on new buildings, second homes, housing construction and under the refinancing program, from 19.5%.
- For mortgages on real estate and rural land: from 19.8%.
- For a mortgage on a garage, parking space or storage room: from 20%.
- Under the military mortgage program, 18.9%.
- Under the Commercial Mortgage program, from 21%.
The last time Sber raised mortgage rates was in early June – by 1.5 percentage points – to 18.2% for mortgages on new buildings, second homes, housing construction or mortgage refinancing.
From July 1, 2024, the state-supported preferential mortgage program for new construction at 8% will cease to operate in the Russian Federation. The family mortgage will also cease to exist in its current form. It will be extended until 2030, but the 6% rate will remain only for families with children under six years old and residents of small towns. For others it could be doubled, but no decision has yet been made.
Author:
Karina Pardaeva
Source: RB
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