In early May, several large banks at once worsened the conditions for mortgage loans or are preparing to do so. RBC writes about it.
According to the publication, at least three players have raised rates on market or preferential programs for new buildings and finished housing since the beginning of the month.
Thus, the Moscow Credit Bank increased the rate on mortgage loans for housing under construction by 0.8 percentage points. On loans for “secondary housing” the rate rose by 0.55 percentage points, to 11%.
Another bank, Sovcombank, raised rates on loans for new buildings and finished apartments by an average of 0.5 percentage points. As a representative of a credit institution explained to the publication, now rates start at 11.99% per annum. They depend on the amount of the loan and the region. The bank’s website indicates a rate of 11.23%. As the organization explained, this is the base level for holders of the Halva card.
Bank Saint Petersburg also increased preferential mortgage rates by 0.3 percentage points. They rose to 7.65% under the program for the purchase of new buildings, and up to 5.65% for family mortgages. According to the materials on the bank’s website, on May 2, St. Petersburg updated the conditions for market programs. The representative of the bank clarified that this is not about raising the base rate, but about revising surcharges and discounts.
RBC, citing the Mortgage and Real Estate Telegram channel, adds that Gazprombank and Rosbank intend to increase mortgage rates from May 15.
Earlier, the head of the Central Bank, Elvira Nabiullina, said that in order to ensure the achievement of the 4% inflation target in 2024, there are now no grounds for lowering the rate.
Another factor, according to experts, which could lead to an increase in market rates on mortgages, is the tightening of regulation.
Thus, since the beginning of the month, banks have increased premiums on mortgage loans taken under equity participation agreements, as well as on loans with a low down payment. Since May 30, the Central Bank has obliged banks to form increased reserves for mortgage loans if the rate on them deviates strongly from the average market values.
The head of the “mortgage” service “Sravni.ru” Dmitry Safronov, in an interview with RBC, indicated that banks began to play it safe so as not to lose profitability. “Essentially, a new round of mortgage rate hikes has begun,” he said.
The increase in rates, probably, was required only for those who are actively working in the segment of programs “from developers,” Anton Pavlov, deputy chairman of the board of Absolut Bank, believes. He, on the contrary, does not expect a correction in rates for the market as a whole.
Source: Rosbalt
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