Mortgage prices in Russia will rise significantly in 2022

Mortgages in Russia in 2022 will cost borrowers much more expensive, but this will not lead to a significant decline in demand for housing, and interest in the secondary market will even grow, according to an analytical study by the NKR rating agency. Analysts believe that the average rates of new mortgages will exceed 9% in the first half of 2022, actually approaching the level of the second half of 2019. In 2021, the high share of state programs positively affected the cost of mortgages, but in 2022 the bulk of loans will fall on the banks’ own programs, the rates for which next year may reach 10%, the NKR expects. "Somewhat to mitigate the negative impact of these factors and increase the availability of mortgages, the extension of the loan term can. 4 trillion rubles in 2020. The reduction in the number of loans issued in 2022 may reach 20-25%, but will be partially offset by a further increase in the average check, the NKR predicts. 4 trillion rubles in 2020. The reduction in the number of loans issued in 2022 may reach 20-25%, but will be partially offset by a further increase in the average check, the NKR predicts.