The rate of issued mortgage fell to a historic low

At the end of November, the average interest rate on mortgage loans in rubles fell to the historical low of 9.2 percent, it said in the latest Bulletin of the Department of studies and forecasting of the Central Bank “as evidenced by trends”. Detailed statistics of the November issue of housing loans, the regulator will be published at the end of December. The average rate issued in October the mortgage was 9.4%, in September – of 9.68%, according to the regulator. Mortgages are steadily getting cheaper in may 2019 after the reduction of the key rate of the Central Bank. In April, the average rate was equal to the issuance of 10.58%.

the Dynamics of the key rates and yields on 10-year government bonds indicates the potential for further decline in mortgage rates, analysts of the regulator.

new year’s drop

Rate mortgages, issued in November mainly reflects the conditions of loans that banks offered in September and October (usually from the approval of mortgage applications to actual issuance takes place 1-2 months).

In November, banks have begun to cut rates. According to the marketing Agency’s Marcs, for the month it’s made 12 of the 20 largest mortgage banks, including Sberbank, VTB, Gazprombank, “FC Opening”, “Revival” Raiffeisen Bank “Absolut Bank”, “UniCredit”, etc. mortgages fell on average by 0.5–0.9 percentage point (PP) depending on the Bank and programs.

mortgages are rapidly becoming cheaper two weeks eight of the 15 largest mortgage banks again lowered the rates of housing loans. Among them – Sberbank and VTB-Personal account

In December, the drop in rates continued. With the beginning of the month mortgage rates on some or all of the programs decreased for seven of the top 20 mortgage lenders. For example, Alfa-Bank, a decline of 0.4 percentage points (for loans for new construction and finished homes), agricultural – 0.3–0.4 percentage points (according to refinancenotion depending on the type of dwelling and loan amount). Bank Building.Russia declined 0.2 p. p. rate of preferential mortgage for families with children. “SMP Bank” has lowered all the basic rates of 0.5% to 1.2%, the minimum to 8.5%.

Only this week, after another reduction of the key rate of the Central Bank on 13 December by 0.25 percentage points to 6.25%, the mortgage program reduced the price of four more major players, some for the second time since the beginning of the month.

for Example, Promsvyazbank (PSB) has reduced rates by 0.1–0,35 p. p.: for new buildings up to 8.7% per annum on the basic program, for finished housing up to 9-9,3% to customers from the street, to refinance to 8.5%.

In the “URALSIB” interest rates on the underlying mortgage programs fell by 0.2–0.4 percentage points, the minimum bet in the primary market dropped to 8.49% APR, the secondary – to 8.59% for refinancing – to 8.33%.

From December 17, in the “Communication-Bank” rates fell by 0.1–0.25 percentage points, the minimum for the program “new building” – to 8.2%, according to the program “Your mortgage” up to 8.8% per annum, on the “Military mortgage” – to 8.6%, reported the Bank press service.

on Thursday, the Bank “Saint-Petersburg” changed the terms of lending in the primary market, increasing the discount to the base rate to 1.6%, said the Deputy head of the business Bank’s mortgage lending Anton Komarov: when signing a credit contract before the New year rate will be 7.9%.

Bank Vozrozhdenie is planning to cut rates next week, will be a minimum of 7.95%, told “Vedomosti” his press service.

“I think that now is a Golden time for mortgage: rates are falling, inflation is falling. This is a great benefit for people the opportunity to purchase an apartment.”

German Gref, President and Chairman of the Board of Sberbank

18 December, the average rate mortgage on the secondary housing is 9.2% per annum for new buildings of 9.08% for refinancing – 8,95%, estimated by independent expert, former head of the analytical center “Rusipoteka” Sergey gordeno.

the cause of the rate changes was including a new wave of correction in the market after the change in the key rate of the Central Bank from December 16, confessed Mosquitoes. “We orientirueshsya market, the determining factor is the key rate as the main instrument of monetary policy,” – explains the drop rates head of mortgage sales PSB Tatiana Chernysheva.

the mortgage will be even cheaper

According to forecasts of the chief economist of PSB Dmitry Monastyrshina, to the end of the year mortgage rates at banks may fall another 0.25 p. p.

Central Bank may limit mortgage Banks zakreditovannym people don’t see the point in tightening finances

In mortgage high likelihood of further fall in interest rates, says chief economist at Alfa Bank Natalia Orlova. In her opinion, their dynamics more in the key rate affect the strategies of the largest players in the mortgage market. “The Central Bank macroprudential measures is now trying to slow down consumer lending, and the mortgage is the only segment of lending where banks could increase lending volumes. Many banks – big and small – will compete for a share in the mortgage market, making their offers more and more attractive,” says Orlov.

“in the Spring of 2020 the average rate mortgages for customers, “the street” could fall to 8.5%, and payroll clients and borrowers from the partner banks will lend for house purchase at 8% per annum”, – predicts gordeno. Vice-President Moody’s Olga Ulyanova believes that rates may fall even more – by 1.5 percentage points from the current level.

“next year upon reaching the appropriate target for inflation, we intend to come close to the historical minimum level of the rate of 8% per annum,” – said the press service of VTB.

Achievement rates on mortgages historical low support demand and growth in the sector in the future, experts say the regulator. Bankers admit that customers demonstrate a high psychological sensitivity to the level of interest rates, because the rates of change even by 0.5 percentage points can bring them a monthly savings of 500-1000 rubles., calculated gordeno.