The analyst assessed the impact of the key rate cut on the primary housing market

The reduction of the key rate to 17% per annum has a positive impact on the primary housing market. This was announced to Izvestia on September 12 by Julian Ovechkin, head of the mortgage department at Level Group.

"We expect that the downward trend in interest rates will create an additional impetus to increase demand, especially in the primary housing segment, where the impact of even minor changes in credit conditions is most noticeable for buyers," the expert noted.

Ovechkin also gave an example showing how a 1% reduction in the mortgage rate affects monthly payments. For example, for a loan of 10 million rubles for a period of 20 years, this reduces the payment by about 8 thousand rubles per month. Such savings become significant for the family budget throughout the entire term of the mortgage.

The analyst also recalled that after the key interest rate was lowered by 2% in July, the primary housing market reacted with an increase in the number of requests for advice on a standard mortgage program. There was also a 20% increase in requests compared to previous months. At the same time, the share of mortgage transactions under this program increased slightly: an increase of only 3% in August compared to July.

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On the same day, the Central Bank of the Russian Federation lowered its key rate to 17% per annum. According to the regulator's forecast, in 2025, taking into account the current monetary policy, annual inflation will decrease to 6.0-7.0%, and in 2026 it will return to the target level of 4.0%. In the future, inflation is expected to remain at the target level.

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