Sberbank to increase mortgage rate by 0.5%

Sberbank will increase the mortgage rate by about 0.5% in August, Vedomosti reports.

The bank has not increased the mortgage rate for over a year. Its price started increasing to about 8% in October, some mortgage programs had rates increased in December. The company has a mortgage rate of 9.514.75% annually. The average rate of the Central Bank in May was 12.2%.

Deputy CEO of VTB 24 Anatoly Pechatnikov said that no increase of mortgage rate would occur until autumn.