The period of the cheapest mortgages is over, now they are more expensive than those years ago

In the last few years, mortgage rates have risen so fast that in the last three months they have been staggering to the level they reached last. For new mortgage applicants and for debtors who end the period of fixation, this means called installment.

years mortgage rates are the highest in the last few years

years mortgage rates vr pekonaly vz set a record. In the FINCENTRUM HYPOINDEX, which expresses the average annual rate of new mortgages, it has jumped to over five percent for the first time in several years. We last recorded the average year of the rate in May 2003.

See graph

Rates have been rising very fast lately

The graph below shows how fast the number of annual rates has increased during the last months. Although the interim change was slightly more pronounced in July and August, it still made up 0.17 percentage points.

Mortgages thus respond to the increase in annual rates by the central bank. The NB increased its key annual rate this year for the first time with effect from June, by a quarter of a percentage point. She repeated this herself in July and August, when the rates were left unchanged. The current two-day repo rate now reaches 3.25%, the last time it was in 2002.

As from outside the rates speech on vi spltky vru

The current value of FINCENTRUM HYPOINDEX 5.10% is 0.73 percentage points higher than this year’s year, compared to the minimum from the average, the difference is 0.90 percentage points. From the point of view of long-term and mortgage applicants, this means the following. If someone took with a twenty-year maturity of 1,750,000 crowns (which is the average in new mortgages) in the ordinary, then at that time the average years of rates of 4.20% will now meet 10,790 crowns per month. In the current year of rates of 5.10%, the installment is 856 crowns.

Historically, the latest mortgage rates in banks were offered to clients in 2005. Specifically, in July 2005, the average rate fell to 3.62%, which would mean CZK 1,750,000 in mortgages with a 20-year maturity of a monthly payment of CZK 10,258. This is about 1,400 crowns less than at the current rate of 5.10%.

The following graph shows how it changed in mortgage payments in connection with the development of annual rates in 2005 and 2007. There is an example of a million bucks with a maturity of twenty years.

New clients are sitting together

Even the recent rise in annual rates, which is reflected in the mortgage installments, is not reflected in the average number of mortgages that new clients now arrange. It is gradually increasing, in recent months it exceeds 1.7 million crowns. In z was even a dog of record years rates were the second highest in history.

The reason is several, among the longest, the constant rise in property prices. This forces the person interested in the position of living to borrow each other. In addition, real estate prices have risen sharply over the last year, by twenty and thirty percent in many cities, and by more than thirty percent in some areas of cheap real estate. The reason is the friendly approach of banks, which sometimes and successfully tried to win over the client and provide him with such returns, with his fulfillment may have problems in the future. The favorable mortgage market is also affected by rising wages and a record low unemployment rate, which generally increases life expectancy and willingness to borrow. From the point of view of new hypotenches, the Pesto bag was a bit uncomfortable for banks.

The number and volume of newly agreed mortgages have increased

For the first time since the month, the total volume of mortgages agreed by banks, which provide their data, did not exceed 10 billion crowns. As for the pots of new mortgages, all banks recorded a decline compared to August. It will now be seen whether, given the annual rates, there is a significant increase in the demand for mortgages, or whether it is only a temporary fluctuation. This may be due, for example, to the acquaintance of mortgages during the year or to the reverberation of very early previous months, when the mortgage was negotiated at a record rate and those who considered a mortgage took it in the spring (most of it was provided in May and June).

Summary for from 2007 (gives salary for natural persons)

Fixation time
years rates:

all fixations together1 year5 let


5,10 %

4,88 %

5,29 %

Change compared to the last msci
(b. p.)*
+ 17* + 19 + 12
Prmrn ve hypotky (tis. K)174919241603
Msn spltka 1mil. mortgages for 20 years (K)665665336760
Msn spltka 1mil. mortgages for 15 years (K)796178458058
elovost vr:
According to vr for purchase on the total pot, incl67 %75 %65 %
According to vr for construction on the total sweat, incl21 %17 %21 %
According to other vr on the total sweat vr12 %8 %14 %

Source: Fincentrum
* 17 basis points = 0.17 percentage points


FINCENTRUM HYPOINDEX values ​​the development of mortgage prices over time. It is out of the average year rate at which providers are in a given calendar month new mortgages for individuals. The weights are the volumes provided incl. Input data for returns is provided by the following banks: esk spoitelna, SOB, GE Money Bank, HVB Bank, Hypoten banka, Komern banka, Raiffeisenbank, Volksbank CZ, Wstenrot hypoten banka a ivnostensk banka.

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