In Sberbank, the minimum mortgage rate for secondary housing reached 28.8% due to adjustments in discounts

On the website of the banking service for the purchase of real estate Domklik, on December 18, Sberbank’s base rate started at 29.6%.

“Currently, the minimum rate for the purchase of secondary housing through Domklik is 28.8%, when all bank discounts are applied to the rate,” the bank’s press service clarified to RB.RU.

The press service clarified that this is not a rate increase on the eve of the Central Bank meeting. The discounts were adjusted two weeks ago.

Sberbank last publicly announced an increase in mortgage rates on November 15. As of this date, the rates for basic mortgage programs increased by 3.5 percentage points due to the increase in the key rate and the increase in the cost of OFZ, the credit institution said in a statement.

“Domklik’s minimum rate in the secondary real estate market will be 28.1% and in the primary real estate market 28.4%,” the bank reported.

The increase compared to November 15 is due to the adjustment of the bank’s internal discounts, which took place several weeks ago, the bank added.

On October 25, the Bank of Russia raised the key interest rate by 200 basis points in one go, to 21% per year, an all-time high. SberCIB Investment Research expects the rate to rise to 23% on December 20.