Sberbank raised mortgage rates on new buildings by 0.5%

Global Look Press |  Konstantin Kokoshkin
Global Look Press | Konstantin Kokoshkin

Sberbank announced an increase in mortgage rates for new buildings and ready-made housing by 0.5 percentage points. Now the minimum amount is 10.4% per annum.

According to the financial institution, mortgage rates are influenced by various factors. Among them are the key rate of the Central Bank, the growth in the yield of federal loan bonds, writes RIA News.

“Sberbank has made every effort to maintain current rates, however, market conditions do not allow keeping them at the same level for such a long period, therefore, from October 8, we are forced to minimally adjust rates on market mortgage products by 0.5 percentage points,” — explained in the company.

Earlier, Sberbank suspended the acceptance of applications due to the high demand for the rural mortgage program. The Russians could buy a plot of land with housing or a block of flats at three percent per annum.

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