Expert opinion: the growth of mortgage rates will not be limited

According to Aksakov, housing lending will become more accessible only if inflation decreases. The State Duma does not discuss and does not plan to discuss the issue of limiting the growth of mortgage rates and regulating this market.

The deputy explained that mortgage rates are rising following the key rate of the Central Bank. But in the current situation in the real estate market, it is not the policy of the Bank of Russia that is to blame, but inflation. Mortgage rates will decrease when the 4% annual inflation target is reached.

Aksakov added that the State Duma will discuss the monetary policy of the Central Bank. Now the regulator is forced to raise the key rate, while the main goal of the Central Bank is to bring down inflation. With inflation of 4%, mortgage rates will be at 7%, the deputy noted.

Let us remind you that the Central Bank expects that the inflation target will be achieved in the first half of 2026. According to the medium-term forecast, by the end of 2024 inflation will be 8-8.5%, in 2025 it will drop to 4.5-5%, and in 2026 it will be 4%. Since October 25, the key rate of the Central Bank has been 21% per annum, and market mortgage rates are approaching 30%.

source: CYANOGEN