The analyst spoke about the favorable time for mortgage refinancing

Refinancing a mortgage makes sense if the difference between the old and new interest rates reaches at least two percentage points. Natalia Gazetdinova, head of the Mortgage Lending Department at Granel Group, told about this on June 15.

"Many families who plan to take out a mortgage in 2026 (at 17-19% per annum) expect to refinance it in the future with any noticeable reduction in the key rate," Gazetdinova said in an interview with RIA Novosti.

The expert clarified that the tangible benefit from refinancing appears only when the interest rate is reduced by 2-3 percentage points — in this case, the borrower can save 15-25% of the overpayment amount. If the difference in rates is less than 1%, the cost of the procedure, including all related costs, will not be recouped.

Gazetdinova noted that the expected 0.5–1 percentage point rate cut in June would not be an incentive for mass refinancing. According to her, the final effect depends on a number of factors: the remaining debt, the cost of renewal, the cost of insurance, the valuation of real estate, the amount of state duty, as well as whether the original loan term is maintained or actually begins anew. The costs of all these procedures can minimize the benefits, which is why the payback on refinancing with a reduction in the rate by only 1 percentage point will last for years.

In addition, the specialist stressed that refinancing often loses its relevance if the borrower has already paid off half of the mortgage loan.

"At this stage, most of the interest has already been paid, and a new loan for the same or longer period actually resets the payment schedule: the borrower starts again by paying mostly interest, rather than the body of the debt," Gazetdinova said.

The subscriber is unapproachable: banks have begun to cut the requested mortgage amounts

What to do if a credit institution does not provide the loan needed to buy a home

Julian Ovechkin, head of the mortgage department at Level Group, said on April 23 that a long-term mortgage can reduce the monthly burden and make the loan more manageable, but the repayment strategy depends on the borrower's financial situation. The expert added that partial early repayment with a shorter loan term is considered the most effective strategy, especially in the first half of payments.