By the end of the year, mortgage rates may fall down to 10%, Regnum news agency announced on Monday.
As noted by experts in the field of mortgage lending, from the beginning of 2017, interests on bank housing loans began to decline and are currently continuing to fall. By the end of this year, the rate may reach the limit of 10%.
At the beginning of 2017, mortgage bank rate amounted to 11.7%. We should remind you that on the 20th of February, Sberbank, Russia’s largest bank, has cut its benchmark mortgage rate by 1.1% down to 10.9% per annum, while the rate for housing purchase on the secondary market will be 10.75−12.25%. Following Sberbank, the other banks have started to reduce mortgage rates.