Sberbank cuts rates on basic mortgage programs

Sberbank has lowered the rate on market mortgage programs. According to the bank’s message, since July 25, the rate on basic programs has been reduced by 0.6 percentage points (p.p.). The minimum mortgage rate for buying an apartment in the primary and secondary markets is 9.9% per annum (previously 10.5%). The changes do not affect mortgage rates, the bank notes.

On Friday, after the meeting of the Central Bank, which decided to reduce the key rate immediately by 150 basis points , to 8% per annum, Sberbank announced a reduction in mortgage rates from July 26.

„The Central Bank decided to cut the key rate again, and Sberbank promptly announced a reduction in interest rates on basic mortgage products from July 26. But, realizing the importance of this step for clients, we decided to speed up as much as possible and reduce rates from July 25,” the Vice President noted. -President, director of the Domklik division of Sberbank Nikolai Vasyov, whose words are given in the message.

Since the beginning of 2022, according to the Domclick service, Sberbank has issued 366,000 mortgage loans worth more than 1.1 trillion rubles.

On July 22, the Board of Directors of the Bank of Russia decided to cut the key rate by 150 bp at once. – up to 8% per annum. Following this decision, a number of major banks announced plans to cut rates on their products. For example, VTB plans to lower mortgage rates to 9.9% from July 25.

Michael Cooper

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