“Gref has forecast a decline in mortgage rates in Russia to 5%

Condition of lower rates, the head of Sberbank called inflation of 3%

The Chairman of the Board of Sberbank of Russia Herman Graffoto: TASS, Anton novoderezhkin

– Mortgage rates in Russia, with an inflation rate of 3% in the foreseeable future will be reduced to 5% per annum, said the head of Sberbank German Gref.

“Regarding mortgage rates, they will fall depending on inflation. Today, if inflation is 3%, I think rate of 5% is not far off,” – said Gref.

The official government forecast for inflation in 2017 is 3.2%. While the Ministry last week said in its report, “Pattern of inflation” that the most likely range for inflation of 2.7 and 3.2%. Last week on lowering the inflation forecast for 2017 and said the head of the Central Bank Elvira Nabiullina. Central Bank of the Russian Federation in September has lowered the inflation forecast for 2017 to 3.5-3.8%, and now, she said, will reduce to 3.2%.

In early September, Gref said that the average rate on mortgages issued Sberbank by the end of 2017 are expected to fall below 10% per annum.

The Agency for housing mortgage lending (AHML) in September reported that mortgage rates are at the lowest levels in the history of the development of the market since 2005 – 10,34% in the primary market and 10.7% in the secondary. Rate the largest banks from August 2017 starting from 9.5%, and in September 2017, the seller lowered the rate on its major products to 9%. This rates on loans, which will be issued according to the standards of the Agency in the fourth quarter of 2017.

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