In Russia, it has become more common to take out mortgages at market rates

Demand for market mortgages in Russia increased sharply in February compared with January 2026, Sberbank's Domclick analytical center noted. The increase was 48%, to 78.3 billion rubles.

The growth in demand for market mortgages occurred against the background of a decrease in the Central Bank's key interest rate and a temporary cooling in demand for preferential programs, Domclick noted. "The market is starting to come to a state of equilibrium. From mid-2024 to January 2026, we observed a bias towards preferential mortgage programs. Last year, their market share consistently exceeded 80%," said Alexey Leypi, Director of Sberbank's Domclick department.

So, in February 2026, the share of the basic mortgage increased by 20 percentage points and amounted to 37.3%. The last time such figures were recorded was in October 2024, said Leypi.

According to the expert, two factors influence the growth in demand for mortgages at market rates. "The first one is expressed in a reduction in the key rate, which gives a positive signal to the market and borrowers. The second factor is related to the family mortgage: the previous high demand for this program on the eve of restrictions in February temporarily dampened interest in preferential programs," said Leypi.

Compared to February last year, the volume of disbursements at market rates increased 4.4 times. The main part of the market mortgage accounts for secondary housing — 65-70% of loans under basic programs. Samara Region (55.7%), Moscow (51.2%) and Saratov Region (49.9%) became the leaders in the share of market mortgages.

Disbursements under preferential programs also showed annual growth in February. Thus, for family mortgages, the volume of loans amounted to 105.5 billion rubles (+17.4% by February 2025), although compared with the record values of the end of 2025 — the beginning of 2026, the figures decreased. The decline is explained by the restrictions on the program that came into force: many borrowers applied for loans in advance, before the conditions changed, analysts stressed.

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