Following the regulator: top banks announced lower interest rates on housing loans

Since February 26, Sberbank has been introducing a new set of rates for mortgage products that are not subsidized by the state. The maximum reduction in the interest rate will reach 0.7 percentage points. Details of the new terms of the Savings Account The rate reduction will be differentiated. Borrowers who are willing to make an initial payment in the amount of 20.1% to 30% will receive a bonus in the form of a 0.5% reduction. The bank removes an additional 0.2% for customers applying for a loan under the Mortgage Plus product, which involves large loan amounts. After updating the conditions on the Domclick platform, the following minimum percentages are set: 15.7% — for the purchase of an apartment in a new building; 16.5% — for the purchase of ready-made housing on the secondary market; 17.6% — for the construction of a private house. In addition to changing the rates, the bank has relaxed the down payment requirements for programs related to suburban real estate. The minimum threshold has been lowered from 25% to 20%, which makes these products more affordable. Important nuances for existing and new clients If the application has already been submitted: For those who plan to take out a loan for secondary housing on February 26, 2026, the updated terms will begin to apply automatically. However, there is an exception: if the transaction has already entered the final stages (the loan has been issued, the contract is signed, or the documents are ready to be issued), the rate will not be recalculated according to the new rules. If the mortgage has already been issued: The owners of existing loans in the Savings Bank have the opportunity to reduce the interest burden only if there is a special option "Rate reduction" in the contract. Unfortunately, in all other cases, it will not be possible to revise the old bid downward. Context and market reaction Recall that on February 13, the Central Bank of the Russian Federation decided to reduce the key rate for the sixth time in a row. The indicator decreased by 50 basis points, reaching the level of 15.5% per annum. The Savings Bank promptly responded by lowering the refinancing rate to 18.9%, although the yield on deposits remained at the previous maximum of 15% per annum. Market experts point out that the dynamics of further mortgage depreciation will be directly linked to the regulator's decisions. "If at the upcoming meeting the Central Bank maintains the rate or reduces it slightly (within 0.5 percentage points), then banks will not sharply reduce interest on loans," analysts comment. The downward trend was supported by other major players. Alfa-Bank's press service confirmed the adjustment of conditions for individual mortgage programs. Now the minimum level here is set at 18.59%. This rate is available to customers who are willing to deposit at least 50% of their own funds and apply for a loan in the amount of 10 million rubles or more. Sovcombank also made concessions to borrowers, reducing interest rates on market programs by 1-1.5 percentage points. The minimum threshold in the bank now starts from 19.99% if a number of additional conditions are met. At the same time, VTB is taking a wait-and-see attitude. The credit institution stated that there was no intention to immediately review mortgage rates. "We will not rush to lower mortgage rates," Dmitry Pyanov, First Deputy President and Chairman of the VTB Management Board, said during a conference call on the group's financial results.