The well-known real estate agent Ruslan Syrtsov in Russia predicted an increase in mortgage rates at the beginning of next year to 32-33%. RIA Novosti reports on this today, November 15.
EADaily recall that as of November 15, Sberbank announced an increase in market mortgage rates by 3.5%, up to 28.4% for primary housing and up to 28.1% for secondary housing.
“Without taking into account the discount, Sber’s base rates increased to 31%. In my opinion, the increase in the key rate in December will be the last in the current cycle of the Central Bank’s monetary policy. Then the “key” will stagnate for some time, after which it will begin to decline. Taking into account the Central Bank’s base scenario, the process of reducing the key rate will begin in 2025. Consequently, loans will also become more accessible again. I think the maximum rates for market mortgages will be set at the beginning of 2025: around 32-33%.” – Syrtsov is sure.
Therefore, the real estate agent clarified, even more potential borrowers are excluded, hence the increased costs for developers.
Another market specialist spoke with RIA Novosti Yuri Belikov called mortgage rates of more than 15% annually as prohibitive for the mortgage market. That is, new increases will not have a significant impact on the market.
