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In recent months, there has been a constant increase in rates for standard mortgage programs, noted in the Department of Mortgage Lending Est-a-Tet. Thus, according to Dom.RF, the average housing loan rate is 10.44%, while two months ago it was below 10%.
“In the first half of the year, growth will continue, an increase of at least 0.5-1% is expected. Thus, the level of the average rate in the primary market will reach and exceed 10.5%,” Est-a-Tet noted.
According to analysts, to date, the most favorable mortgage conditions can be obtained through the state preferential program. For example, under the program for families with children, a housing loan can now be issued at a rate of 3.7%. “There were no such affordable conditions even in 2020, when the program was just launched,” said Aleksey Novikov, director of the Est-a-Tet mortgage lending department.
“Let’s consider an example: a family with a child plans to take out a mortgage loan to buy an apartment for 10.9 million rubles. The loan amount for 20 years will be 8.7 million rubles, the initial payment is 2.2 million rubles. If the family takes out a loan under the standard program and a rate of 9.4%, then the monthly payment will be 80.5 thousand rubles, while under the preferential state program with a rate of 3.7%, the payment will be 51 thousand rubles, that is, almost 30 thousand rubles less,” Novikov said.
Source: Rosbalt
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