Large banks are lowering mortgage rates.

      May 20, 2026 12:20 Economy In May 2026, Russian banks completed another stage of mortgage rate reduction in response to changes in the monetary policy of the Central Bank and increased demand. This primarily concerns large financial organizations, with a correction ranging from 0.5 to 2 percentage points. The weighted average mortgage rates for new buildings fell below 20% for the first time since July 2024, reaching 19.93%. According to "DOM.RF," by the end of April, the average rate for market mortgages on new buildings decreased to 19.22%, while on the secondary market it dropped to 18.84%. Thus, VTB improved the conditions for mortgage programs twice in a week—both for market and combined mortgages—and also reduced the down payment. Such actions are part of a general banking trend. Analysts predict that by the end of 2026, rates could fall to 16-17%. The reduction in rates has already led to a revival in the market. In March 2026, banks issued 230 billion rubles in mortgages, which is 37% more than in March 2025. The main driver of growth was market mortgages, which increased by 326% compared to the previous year. It is expected that in 2026, market and preferential programs will reach parity. Alexey Okhorzin, Senior Vice President and Head of the Retail Business Products Department at VTB, believes that the next stage of easing conditions will increase the accessibility of secondary housing and standard apartments in the mid-market segment. Forecasts for 2026 suggest more than 5 trillion rubles in new mortgage loans. The return of mass demand is expected at rates around 12%, while a reduction to 9-10% may not occur before the end of 2027. NIA "Nizhny Novgorod" has channels on Telegram and MAX. Subscribe to stay updated on the main events, exclusive materials, and operational information. Copyright © 1999—2025 NIA "Nizhny Novgorod." When reprinting, a hyperlink to NIA "Nizhny Novgorod" is mandatory. This resource may contain materials 18+