Sberbank announced an increase in the rate on market mortgage programs by 0.5 percentage points.
On September 16, the Central Bank lowered the key rate by 50 basis points, to 7.50% per annum.
“Mortgage rates are influenced by a number of factors in addition to the key rate of the Bank of Russia. For example, for almost a month there was an increase in the yield of federal loan bonds, both long-term and short-term, which affected the increase in mortgage rates at a number of banks. Sberbank made every effort to maintain current rates, however, market conditions do not allow maintaining them at the same level for such a long period, therefore, from October 8, we are forced to minimally adjust rates on market mortgage products by 0.5 percentage points," the bank's press service informs.
