Experts expecting rate growth on Russian mortgage market25 October 2018
One of the leading Russian online news media Lenta.ru has published an article on mortgage market situation. The interviewed experts unanimously believe that in 2019 mortgage rates will be steadily growing.
“We expect mortgage rates to grow by 0.5-1.5 percent, – predicts Sergey Kozlov, Deputy Chief Executive-Credit Department Director of SDM-Bank. – There are several reasons for that: inflation is higher than anticipated, the Central Bank key rate increases, the ruble exchange rate is expected to fall, and, consequently, banks encourage clients not to convert their funds into currency. As a result, we can already witness large market players raising deposit and lending rates.