Moscow24 July News: Mortgage rates are falling, and the government's…
Moscow24 July News: Mortgage rates are falling, and the government's efforts to make benefits more targeted are contributing to growth in market mortgages. According to Nabiullina, mortgage rates in Russia continue to decline, although they remain high.
Consensus
- Market mortgage interest rates in Russia are decreasing.
- The volume of market mortgage lending is increasing.
- The Russian banking sector has adapted to sanctions and maintains sufficient capital reserves.
- The Central Bank reduced its key rate to 14%.
- Inflation forecasts for 2026 were raised to 6–7%, with a projected average key rate of 14.5–14.6% in 2026 and 10.5–12.5% in 2027.
- The Central Bank expects higher budget expenditures and structural deficit, which will persist until at least 2028.
Points of divergence
- Government efforts to make subsidized programs more targeted contribute to increased accessibility of market mortgage loans. — vesti
- An increase in the volume of subsidized lending leads to higher real estate prices, which in turn increases market mortgage rates. — vedomosti
Coverage (2 sources)
- Naбиуллина stated that market mortgage has become more accessible — Вести
- Naibiulina: Central Bank policy aims to reduce mortgage rates — Ведомости