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Banks report longer fixed-rate period and higher mortgages

January 2017/

In 2016, Česká Spořitelna reports an increased interest in mortgage loans with eight- and ten-year fixed interest rates, whereas the five-year fixed rate was the most popular in recent years. The average amount of a mortgage loan grew on the year from CZK 1.7m to CZK 1.9m. UniCredit Bank Czech Republic and Slovakia clients are most interested in a five-year fixed rate; however, there is a growing interest in seven- and ten-year fixed rates. The average mortgage loan was CZK 114,000 higher and amounted to CZK 1.98m. Raiffeisenbank closes more than a half of its mortgage loans with a five-year fixed rate and one-third with a seven-year fixed rate. The average mortgage loan amounted to CZK 2.2m. Clients of Wüstenrot Hypoteční Banka most frequently opt for a five-year fixed interest rate and the average amount of a mortgage loans has grown by roughly 4%. Fio Banka reports the highest interest in mortgage loans with a five-year fixed rate and its average mortgage loans has grown to CZK 1.5m. These figures stem from a survey by ČIANEWS.

Source: http://praguemonitor.com/2016/12/15/banks-report-longer-fixed-rate-period-and-higher-mortgages