Mortgage rates in russia have become higher than during the major economic crises
Sberbank raised the minimum mortgage rate by 3.5 percentage points to 28.1%. The last time this bank gave housing loans at such a rate was in the first half of 2000. Back in October 2024, this bank offered a rate of 21.9%.
At other banks, mortgages rised even stronger. Since November 12, Alfa Bank has been issuing loans for ready-made and under-construction housing at a rate of 28.49%, VTB since November 13 at a rate of 29.8%.
The reason for the rapid increases is the growth of the key rate of the russian central bank, which rose from 16 to 21% in mid-July. Thus, the financial regulator is trying to stop the war-induced inflation and prevent the economy from overheating.
Remind that at the same time in Ukraine the
key rate is only decreasing