Increases began on May 6, the first rate on mortgage refinancing by 0.3 percentage points - up to 8.29% - was raised by Alfa-Bank. According to Kommersant with reference to the analysis of the competitive environment in the mortgage market, compiled by the development institute Dom.RF, from May 31 the bank will raise rates for other programs.
Following this, Sberbank, Gazprombank, Otkritie, Bank Saint Petersburg and the Asian-Pacific Bank raised rates. The growth amounted to 0.4 percentage points, 05, 0.2-15, 0.71-1.5 and 0.7 percentage points, respectively.
At the same time, mortgage rates were also raised by Dom.RF Bank. And Rosbank, Unicredit Bank, RNKB, ATB raised their rates at the end of April.
The banks explained the increase by the increase in the key rate and the level of inflation.
As the TV channel Dozhd notes, the credit boom in the field of mortgages began in the Russian Federation in 2020 against the background of the introduction of preferential state programs. They will expire on July 1st. It is not yet known whether the state program of preferential mortgages will be extended. Earlier, the head of the Central Bank Elvira Nabiullina said that the Russian mortgage market is close to a bubble. She said that it was time to curtail the state program of co-financing of loans.
The Central Bank notes that many Russians, seduced by low mortgage rates and a drop in the minimum down payment threshold, did not calculate their strength and could not cope with payments. By May, according to the Central Bank, the total volume of mortgage debt of Russians for the first time exceeded 10 trillion rubles. A year earlier, this figure was lower by 25.8%.