Russia (bbabo.net) - After raising the key rate of the Bank of Russia, as well as the decision of Sberbank to raise mortgage rates, VTB also decided to raise the cost of housing loans. Now the minimum mortgage rate in the bank starts from 11.3%.

“VTB, following other market players, has been raising mortgage rates by 1 percentage point since February 22, to 11.3% for both finished and under construction housing. Refinancing of housing loans from other banks is now available at 11.6%. For borrowers who received mortgage approval before February 22, the conditions will not be revised," the credit institution said in a statement (quoted by TASS).

On February 18, it became known that Sberbank was raising mortgage rates by 1 percentage point to 11.3%, while the bank left mortgage rates with state support at the same level. Prior to this, the increase occurred on February 1, also by 1.p.p. According to the expectations of the Ministry of Finance of the Russian Federation, this year mortgage rates should stabilize around 11-12% per annum and are unlikely to overcome the mark of 15%, despite the increase in the key rate of the Central Bank.

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