Sberbank has raised mortgage rates on ready-made and housing under construction by 1 percentage point, to 10.3%, follows from the information on the bank’s website.

From today, in addition to the basic programs, mortgage loans for any purpose secured by real estate have also risen in price by 1 percentage point – from 9.9% to 10.9%. The rate on a loan for the purchase of a garage or parking space increased from 10.1% to 11.1%. The rate on a loan for the construction of a residential building starts from 10.6% (previously from 9.9%), on mortgages for foreigners – from 10.6% (previously from 9.6%).

At the same time, mortgage rates for a family with a child and state-supported mortgages remained at 4.7% and 5.8%, respectively. Mortgage refinancing also costs 9.6% per annum.

Prior to this, Sberbank raised  mortgage rates on December 6. The cost of mortgage loans for secondary housing then increased by 0.2 percentage points – up to 9.3%, for new buildings – by 0.5 percentage points – up to 9.3%.

Another major state-owned bank, VTB, has also raised mortgage rates by 1 percentage point since January 11, to 10.3% for both ready-made and housing under construction.

Several large banks have also announced a rate hike in 2022.