TNBiz (TNBiz)
Markets  |  September 19, 2012 20:50:05

Fincentrum: Interest rates on mortgages in the Czech Republic humiliated historic lows

PRAGUE (MEDIAFAX) - The historic low mortgage interest rates in the Czech Republic fell during August. The average interest rate fell to a record 3.55 percent on Wednesday informed Fincentrum Hypoindex.

Original record from last December was 3.56 percent. According Fincentrum rates will likely continue to do so. Suggest that the September event banks, but also the possibility of further interest rate cuts by the Czech National Bank.

"After several months of slight decline humiliated rate mortgage their historic lows and set new bottom at 3.55 percent. Moreover, there is no evidence that in the short term rates rise, rather it is likely that over time will humble even the 3, 5 percent, "says Josef Rajdl, senior analyst Fincentrum.

Compared to the previous month, the interest on mortgages increased slightly. To mortgage banks for a secured credit agreement came about five hundred more clients than in July. Specifically ie 6164 candidates.

The average amount of mortgage loans by Fincentrum during the period slightly increased. People therefore borrow a higher amount because interest rates are really convenient. Currently, mortgage loans are about the amount of 1,668,080 crowns.

During the second month of the holiday went up the overall volume of mortgages. Total of € 10.282 billion crowns. "After a month break banks involved in Fincentrum Hypoindex again negotiate mortgage loans amounting to over 10 billion, which is managed for the month of August last five years," says Joseph Rajdl.

Jan Soukup,

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