The expert announced the return of the mortgage rate to a comfortable level in two years.

Market mortgage rates in Russia will reach a psychologically comfortable level no earlier than the beginning of 2028. This was announced on June 16 by Yulia Rykunova, co-founder and Business Development Director of the M2 real estate ecosystem.

"A comfortable, psychologically stable key rate is 7%. With all macroprudential surcharges, the market rate is 9-12%. And we forecast such a rate no earlier than the first quarter of 2028," Rykunova said during a press conference at the Dvizhenie Real estate forum.

According to the expert's forecasts, a gradual reduction in the key rate to the level of 12-13% is expected during 2026. In this scenario, the market rates for mortgage programs will be in the range of 16.5–17.5%.

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Natalia Gazetdinova, Head of the Mortgage Lending Department at Granel Group, said on June 15 that mortgage refinancing makes sense if the difference between the old and new interest rates reaches at least two percentage points. 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.