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The flow of funds from mortgages to deposits is increasing
Market interest rates on deposits and loans have been steadily rising since the central bank raised interest rates once again. In this situation, more and more clients are abandoning real estate purchases in favor of deposits. In the second half of the year, the total volume of these funds may reach 420 billion rubles. This was stated by VTB Senior Vice President Dmitry Breitenbicher at the FINOPOLIS 2024 exhibition.
In the context of the "cooling" of the mortgage market, coinciding with a stable growth in interest rates, the inflow of funds that borrowers could use as a down payment on a loan, but which could ultimately be directed to deposits, is increasing. In the middle of this year, we expected this amount to be 380 billion rubles, but the "freezing" of credit markets and deposit rates above 20% forced us to revise our forecast. Now we estimate that this flow will be at least 420 billion rubles," said Dmitry Breitenbicher.