MOSCOW, Oct. 28Market mortgage rates in Russia could reach 20% next year or in December this year, experts surveyed believe; however, some analysts called such a scenario a shock, noting that in the current conditions its implementation is unlikely.
Last Friday, the Bank of Russia unexpectedly raised the key rate immediately to 15% from 13% per annum. The current inflation pressure in the Russian Federation has increased significantly and is higher than the expectations of the Central Bank, the regulator believes. According to the Rusipoteka analytical center, obtained on the basis of information from leading lenders, average market mortgage rates for secondary and primary housing in October have already exceeded 15%.