"Dom.RF": Mortgage rates are falling in Russia

Average mortgage rates for new buildings fell by 4.5%, while for the secondary market the figure fell by 4.79%.

In early July, mortgages became cheaper in Russia. Rates on market loans for housing in the country's 20 largest banks have fallen by almost 5 percentage points in six months. Such data is provided by the development institute "Dom.RF".

Thus, average mortgage rates for new buildings decreased by 4.5 percentage points, to 24.48%. For the secondary market, the indicator decreased by 4.79 percentage points, to 24.6%, RIA Novosti writes . However, these figures are still higher than in the same month last year.

At the beginning of July 2024, the average mortgage rate for new buildings reached 19.46%, and for existing housing - 19.69%.

The key rate, which determines the cost of bank lending, was reduced on June 6, 2025, by 1 percentage point to 20%. The next meeting of the Central Bank's board of directors will be held on July 25.