Mortgage interest rates in Russia (excluding government programs) may reach 20% as of December this year. This is RIA Novosti’s forecast given Associate Professor of the Basic Department of Financial Control, Analysis and Audit of the Main Control Directorate of the Moscow REU named after Plekhanov Dmitry Osyanin.
“Under current conditions, when the Bank of Russia continues to increase interest rates, it is possible that mortgage interest rates will remain high,” he said.
According to the economist, rates of 20-22% on market mortgages are theoretically possible next year. Their size will depend on the economic situation in Russia, the base rate and other factors.
Maxim Osadchiy, head of the analytical department of BKF bank, doubted that by the end of this year the weighted average cost of home loans will approach 20%. Moreover, such a scenario in 2024 is possible even if there are no strong geopolitical, economic and financial shocks. The analyst said that the interest rate increase will occur due to rising inflation.
Igor Galaktionov, stock market expert from BCS World of Investments, suggested that mortgage rates in the secondary market can reach 16-18% for certain categories of borrowers and objects. This will happen if the Central Bank continues to increase interest rates, the official explained.
Bank of Russia 27 October raised The key interest rate was increased by 200 basis points in one go to 15% annually. What will happen to prices, ruble exchange rate and mortgage rates in Russia now? material “Newspapers.Ru”.
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Source: Gazeta
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