Mediafax (Mediafax)
Mortgages  |  October 17, 2012 14:45:06

Fincentrum: Interest rates on new mortgages humiliated historic lows


PRAGUE (MEDIAFAX) - A new historical low mortgage interest rates in the Czech Republic fell during this September. The average interest rate fell to a record 3.46 percent on Wednesday informed Fincentrum Hypoindex.

"The decline in interest rates in September was really pronounced. Fell from 3.55 percent to 3.46 percent, nine basis points., Low interest rates, however, surprisingly attracted people to the banks. Numbers and volumes in September compared to August decreased. Doing in December record volumes and numbers greatly increased, "said senior analyst Josef Fincentrum Rajdl.

In September volumes mortgages reached 8.698 billion crowns, which is about 1.5 billion less than a month before. Likewise also decreased the number of mortgage loans. In September, mortgages 5,302 clients from August 6 164th "Such a loss is not common.Comparing the years during August and September, most of the ninth month is victoriously. This year, however, was in August in terms of volumes really strong, "added Rajdl.

Another reason for the reduction in interest rates may be Rajdl decline in property sales. "I still believe that, due to the fact that in September the real estate market began to strengthen the cause somewhere else. Probably the refinancing. Clients who ended fixation, probably stayed with their banks, thus not counted into the aggregate additional mortgages or have not increased volumes, "estimates.

Libra investigation Fincentrum Hypoindex the volumes of loans. Input data for calculations provide the following banks: Czech Savings Bank, CSOB, Equa bank, GE Money Bank, Mortgage Bank, Commercial Bank, Raiffeisenbank, UniCredit Bank, Volksbank CZ and Wüstenrot mortgage bank.

Jan Soukup, soukupj@mediafax.cz

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