The details were provided by the federal company Etazhi. They said that since the beginning of July, financial institutions began to raise mortgage rates, with some banks offering mortgages from 23% per annum.
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Mortgage rates in Russia hit a record high of 23%
“The average rate approved since the beginning of July is already 18.9%, but demand is still stable even at these rates,” Tatyana Reshetnikova, deputy head of the mortgage department of the federal company Etazhi, told Izvestia in an interview.
Many people who now apply for a mortgage use various methods to reduce monthly payments. Banks actively offer purchase services at reduced rates if a commission is paid first. This reduces the monthly payment and makes it quite “nice” even with a high interest rate on the loan.
As an example, they cited a property worth 5 million rubles. It is purchased with a mortgage at a rate of 19.1% with a down payment of 2 million rubles and a term of 30 years. Thus, the payment will be almost 48 thousand rubles, but if you immediately pay a bank commission of 6.81% of the loan amount, the down payment will be reduced. Under these conditions, in the first year of the loan the rate will be 11.5 per year and the payment will drop to 32 thousand.
This step is often taken by people who expect mortgage rates to drop in the future and are going to refinance the loan on favorable terms. This is also interesting for those who plan to pay off early.
We have previously written that we have decided to extend the preferential family mortgage to a larger number of Russians.
Author:
Nikolai Tikhonov
Source: RB
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