Mediafax (Mediafax)
Personal finance  |  June 20, 2012 09:20:06

Fincentrum Hypoindex: Interest rates on mortgages in May fell to 3.68 percent (June 20, 2012)


PRAGUE (MEDIAFAX) - Interest rates on mortgage loans in May fell again, the average interest rate in May came to 3.68 percent from 3.7 percent in April. It results from the current pointer Fincentrum Hypoindex, published on Wednesday.

The various discount events banks and low interest rates to banks attracted nearly a thousand applicants for a mortgage loan more than it was in April. In the fifth month of this year mortgages have 6309 clients.

The volume of mortgage lending again humbled desetimiliardovou border, when climbed to 10.7 billion.

"Most banks left in May compared to the previous month rates at their current levels, correction of the previous growth rates, the bank carried out until early June. Fincentrum hypoindexu slight decrease is related to the higher fixation preference of cheaper by the clients.Variability of rates among banks is very low, none of the banks to raise rates aggressively than risk or no further reduction in rushing. Meanwhile in May the bank had no reason to change the volume of mortgage loans were still high and the monthly break again overcome desetimiliardovou border, "said senior analyst Joseph Fincentrum Hypoindex Rajdl.

Mortgage loans with variable rates, according to him more popular than annual fixation. "Variable rates but may soon change. According to the Czech National Bank, if Europe is depressed, so an alternative scenario 3M PRIBOR first increase significantly and then decreases. In the event that a crisis does not occur, and 3M PRIBOR decreases and then increases. This the fall could also be changed 1M cutlery that affects mortgages with variable interest rate.Interest may not be stable, as at present, "the further development of analyst estimates Rajdl.

The report on the financial stability of the Czech National Bank show that the property market there is still a risk of downward. The indicators of sustainability in real estate prices in 2011 further improved mainly by falling prices. According to CNB risk in the direction of lower prices but remain next to the worsening income situation of Czech households also possible forced sale of flats, which secure the loan.

An interesting report has recently brought the Ministry for Regional Development. Mortgage Bank, according to him has lost its longstanding leadership in the mortgage market. This year is the number one Czech Savings Bank. Czech Savings Bank provided for in the first quarter of 5600 mortgages worth 9.8 billion crowns.According to statistics from the Ministry of Regional Development and market share reached 34.4 percent and this year's biggest mortgage bank.

Mortgage bank offers by the end of the summer holidays negotiate a mortgage with a progressive and degressive repayment mortgage with no fee for arranging mortgages. Services regressive (decreasing) and progressive (growing) payments are part of packages "Mortgage managers" and "Mortgages for graduates." Arrange a mortgage with a decreasing or increasing payment is free to contract to 31 August 2012.

Volksbank extended action "Living without worrying" about a month. Clients can take advantage of mortgage interest rates from 3.19% and a fee of CZK 1 999, this month. The interest rate of 3.19% is intended for fixation of three and five years for mortgages with a maturity of up to 10 years and up to 70 percent LTV.For a longer maturity loans with the same conditions otherwise Volksbank offers 3.39% interest rate. The condition is sending payments to Volskbank personal account.

The mortgage lenders will be added early next newbie. AXA Bank will also provide new mortgages. From June starts the test program when the bank will offer mortgage loans to their employees, their families and friends. Sharp will start selling the bank for several months.

Fincentrum Hypoindex evaluate mortgage prices over time. It is a weighted average interest rate for which are provided in a given calendar month mortgage loans to individuals. Weights are the volumes of loans.Input data for calculations, these banks: the Czech Savings Bank, CSOB, GE Money Bank, Mortgage Bank, Commercial Bank, Raiffeisenbank, UniCredit Bank, Volksbank CZ and Wüstenrot mortgage bank.

Filip Sušanka, susanka@mediafax.cz

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Fincentrum Hypoindex: Úrokové sazby u hypoték v ČR v květnu poklesly na 3,68 procenta (20.6.2012)

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