Izvestia: the average mortgage rate in Russia will exceed ten percent by the end of 2021 
in Russia by the end of 2021 may exceed ten percent. Previously, such an indicator was observed in 2017-2018, writes Izvestia.
It is noted that the average mortgage rates in Russia exceeded the pre-pandemic level. The indicator for new buildings, excluding preferential programs, increased to 8.87 percent, for secondary housing – up to 9.26 percent, for refinancing – up to 8.66 percent, said the head of the analytical center Dom.RF Mikhail Goldberg. At the same time, on November 14, rates were 8.66 percent, 8.85 percent and 8.6 percent, respectively.
Mortgage market expert Andrei Barhota predicted a significant increase in mortgage rates for Russians: the indicator will reach ten percent and even will exceed it. This is due to an increase in the cost of loans, he explained.
Tatyana Reshetnikova, Deputy Head of the Mortgage Department of the federal company Etazhi, said that the price of new buildings in the mass segment since February 2020 in the country has grown by almost a third – 29.6 percent … The affordability of housing in Russia has declined, she said.
“The main indicators of mortgage affordability are the size of the down payment and the monthly payment. Since February 2020, the initial payment for new buildings has grown by an average of 30 percent, while the monthly payment for a 20-year loan has grown by 13 percent. On the secondary market, the initial payment increased by 25 percent, and the monthly payment by 19 percent, “the expert emphasized.
Earlier, a member of the government, Minister of Construction and Housing and Utilities Irek Fayzullin said that the average mortgage rate could exceed 8 percent … He added that the department will continue to provide housing to privileged categories of citizens.