Mortgage interest fell 44 percent

In January, banks provided mortgages worth 4.6 billion crowns, which is 44 percent more than last year. In addition, rates continue the trend from the end of last year and are constantly rising. The turn is now in sight. The revival of the mortgage market is not affected by the expansionary monetary policy of the Czech National Bank.

The interest in mortgages is really negligible compared to previous years. People still speculate on the decline in property prices and branches of mortgage banks are empty. A total of 2,675 mortgages in the amount of CZK 4,595 billion were provided in January, which are the largest providers on the market – Hypoten banka and esk spoitelna – in some cities in 2007 achieved independently. In January January, 4,817 mortgages in the amount of CZK 8.2 billion were provided and 5,065 mortgages worth CZK 8.35 billion in two years (in January 2007). The declining trend thus shows an average in mortgages, which in comparison with December 2008 fell by another almost 75,000 crowns to 1,717,923 crowns.

The FINCENTRUM HYPOINDEX aggregate indicator, which has the average year of the rate of all new mortgages provided, has risen by another 5 basis points since December and has stabilized at 5.74%. Mortgages with a 5-year fixation contributed the most to this number, with the rate rising by 5 hundredths of a percentage point to 5.64% over the years.

As for the one-year mortgages, although they showed a comparable year-on-year decline in annual rates of 6 hundredths of a percentage point, however, the average annual rate of 5.93% was still at the 6% mark. As a result, the client’s interest in this variant of financing is limited. On the total volume of provided mortgages, mortgages with a one-year fixation have only five-year fixation (20.9%).

Graph 1: Hypoindex January 2009

Hypoindex January 2009

Influence of the years of esk nrodn bank rates on the years of mortgage rates

And it looked promising with the development of the year’s rates at the end of 2008, and the fact tore us out of the optimistic estimates of the development. Even though the Czech National Bank (NB) is trying to stir up a freezing economy with its monetary policy (the dream base year), the commercial banks are not fully rushing to the slide year. On the contrary.

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Hypoten banka set out to fight for new clients with its advantageous Valentine’s mortgage. Clients who apply between 16 standards and 20 March 2009 will be entitled to a 100% discount on the fee for the issuance of mortgages. .

Komern banka provides clients with a permanent – 100% discount on the processing fee on the Czech market of mBank, Raiffeisenbank, esk spoitelna and a flat fee of CZK 2,900. In addition, a number of banks do not charge clients a fee for issuing mortgages if they decide to refinance their existing mortgage with a new one.

Summary for January 2009
Fixation period of the rate years all fixations 1 year 5 let
Hypoindex 5,74 % 5,93 % 5,64 %
Change from last msci (bp) 5 -6 5
Prmrn ve hypotky (tis. K) 1 718 2 249 1 482
Msn spltka 1 million mortgages for 20 years (K) 7 013 7 125 6 956
Msn spltka 1 million mortgages for 15 years (K) 8 297 8 402 8 243
elovost vr:
According to vr for purchase on the total pot, incl 63 % 70 % 62 %
According to vr for construction on the total sweat, incl 21 % 19 % 18 %
According to other vr on the total sweat vr 16 % 11 % 20 %

Indicator methodology HYPOINDEX FINCENTRUM: HYPOINDEX FINCENTRUM values ​​of mortgage prices in 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 deposits is provided by the following banks: esk spoitelna, SOB, GE Money Bank, Hypoten banka, Komern banka, Raiffeisenbank, UniCredit Bank, Volksbank CZ and Wstenrot hypoten banka.

Conditions inside the indicator HYPOINDEX FINCENTRUM: FINCENTRUM HYPOINDEX can be freely available only with the designation “FINCENTRUM HYPOINDEX” and the source “” (in the case of Internet media with an active click on

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