No Sharp Drop in Mortgage Rates Expected in Sept 2026

Therefore, according to the expert, it is not worth expecting a noticeable decrease in mortgage rates literally in the first weeks of September.

Consensus

A Central Bank meeting on the key rate is scheduled for September 2026.
Mortgage rates are expected to remain high in the short term, with no significant reduction anticipated in September.
The average mortgage rate in July was 17.8%.
The Central Bank's key rate is currently 14% annually.
The next Central Bank meeting is set for 11 September.
The Central Bank has indicated that future rate cuts will be gradual.
The volume of mortgage lending decreased by nearly 25% in July compared to June, reaching 363 billion rubles.
Russia's Central Bank has projected that the average key rate will be in the range of 10.5–12.5% by the end of 2027.
The key rate is expected to be in the range of 14.5–14.6% for 2026 on average.
The Central Bank's policy aims to ensure gradual rate reductions.
Buyers are advised to focus on financial capabilities and specific property rather than waiting for ideal market conditions.
The market shows a trend of increasing interest in commercial real estate over residential units.

Experts suggest that people planning to buy housing should assess their financial capabilities and risks, and consider credit holidays for mortgage loans after the birth of a second or subsequent child. — vm
There is a growing trend among Muscovites to shift from buying apartments to purchasing commercial real estate. — vm
The most favorable window for purchasing property may open only by the end of 2027, based on projected key rate reductions. — riamo
Waiting for a 0.5–1 percentage point reduction in mortgage rates may not be worthwhile if the property is needed for personal residence. — riamo
A decrease in mortgage rates could lead to increased demand and rising property prices. — riamo