An expert explained why it is not profitable for Russians to repay a mortgage loan early.
Financier Ekaterina Astakhova shared a comment on this topic.
In a situation where the mortgage rate is lower than the Central Bank rate, it is not profitable for borrowers to close the mortgage early, the expert said on the air of the radio station " Moscow Speaks ".
If there are free funds, then in this case it is better to put them on deposit to receive income. It is more profitable from an economic point of view, the financier shared her opinion.
People who took out a mortgage at a lower Central Bank rate than now (16%) are in a winning situation, the expert believes.
Now it is more profitable for this category to put money at a high interest rate and effectively increase savings. Astakhova called such a loan not a credit, but an asset.
"Because you pay less than you will receive from the deposit where the money is. Therefore, it is more profitable not to pay it off early today, but to put the money in a deposit, to receive income higher than your mortgage rate," the expert shared her opinion.
At the same time, economists have been saying lately that the Central Bank rate will go up. The regulator will discuss this issue on Friday, July 26. Analysts expect the rate to be increased to 17-18%.
