Sberbank raised mortgage rates by 0.5 percentage points

Sberbank announced an increase in market mortgage rates by 0.5 percentage points. The decision is explained by a change in “market conditions”, in particular, an increase in the yield of federal loan bonds.

“Mortgage rates are influenced by a number of factors in addition to the key rate of the Bank of Russia. So, for almost a month, there was an increase in the yield of federal loan bonds, both long-term and short-term, which affected the increase in mortgage rates at a number of banks, ”said a representative of Sberbank to journalists (quoted from “Interfax”).

The bank notes that current market conditions “do not allow” rates to remain at the same level “for such a long period.” Rates under state programs and on previously approved mortgage loans will remain unchanged.

In the summer, Sberbank reduced the mortgage rate by 0.6 percentage points. The minimum rate for market programs was 9.9% per annum. The key rate of the Central Bank since September 19 is 7.5%.

President Vladimir Putin the day before, on October 7, signed a law on credit holidays for consumer and mortgage loans to mobilized people and their families.

Read more about the law in the material “Kommersant” “Mobilization holidays”.

Leonid Uvarchev

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