{"id":11716,"date":"2024-09-17T08:41:30","date_gmt":"2024-09-17T08:41:30","guid":{"rendered":"https:\/\/axevera.com\/?p=11716"},"modified":"2024-09-17T09:51:05","modified_gmt":"2024-09-17T09:51:05","slug":"decreasing-interest-rates-the-mortgage-market-recovery-in-the-czech-republic","status":"publish","type":"post","link":"https:\/\/axevera.com\/en\/2024\/09\/17\/decreasing-interest-rates-the-mortgage-market-recovery-in-the-czech-republic\/","title":{"rendered":"Decreasing interest rates: the mortgage market recovery in the Czech republic"},"content":{"rendered":"\n

In August, banks and building societies in the Czech Republic issued mortgages worth over 32 billion crowns, of which nearly 26 billion were new loans. Mortgage activity grew by a third compared to the previous month and reached the highest level since January 2022. August is usually a more dynamic month for the mortgage market, but despite the seasonal effect, this year’s monthly increase goes far beyond that: on a year-on-year basis, the increase went from 109% in July to 130% in August.<\/p>\n\n\n\n

The upturn in the mortgage market was boosted by the change in regulations on early mortgage repayment, as well as by the reduction in the average interest rate on new loans which fell below 5% for the first time in the last two years: interest rates on new loans fell to 4,98% from the 5,07% recorded in July. The decrease reflects the trend of market rates with longer maturities, which have followed a negative trend since June, reaching their lowest level in the last months.<\/p>\n\n\n

\n
\"\"<\/figure><\/div>\n\n\n

According to the statistics reported by \u010cBA Hypomonitor, which collects data from all banks and building societies in the Czech Republic that offer mortgages, the volume of newly issued mortgages, excluding refinancings, grew by 31% to CZK 25,7 billion in August: the number of new mortgages granted was 6.498, 25% more compared to July and marking the highest value since March 2022. Refinanced mortgages, i.e. internally or by another institution, also increased by CZK 2,6 billion compared to the previous month to CZK 6,7 billion.<\/p>\n\n\n\n

From a business perspective, this trend may represent an important opportunity for the construction and real estate sector. The increased availability of mortgages and lower interest rates supports the demand for new housing, encouraging the development of new construction projects. In addition, the recovery of the mortgage market could also generate an indirect positive effect for companies operating in related sectors, such as the production of building materials, furniture and property consultancy services. Stable long-term interest rates will be a key factor in ensuring sustainable growth, keeping investors\u2019 and consumers\u2019 trust.<\/p>\n\n\n\n

Sources: https:\/\/www.ceskenoviny.cz\/zpravy\/hypomonitor-objem-hypotek-byl-v-srpnu-nejvyssi-od-zacatku-roku-2022\/2567078<\/a> https:\/\/www.cbamonitor.cz\/aktuality\/cba-hypomonitor-objem-poskytnutych-hypotek-je-nejvyssi-od-zacatku-roku-2022<\/a><\/p>\n\n\n\n

Visuals: https:\/\/storyset.com\/<\/a><\/p>\n\n\n\n

Imagine generated by AI.<\/p>\n","protected":false},"excerpt":{"rendered":"

In August, banks and building societies in the Czech Republic issued mortgages worth over 32 billion crowns, of which nearly 26 billion were new loans. Mortgage activity grew by a…<\/p>\n","protected":false},"author":2,"featured_media":11717,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[525,1],"tags":[],"yst_prominent_words":[],"class_list":{"0":"post-11716","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-en","8":"category-non-categorizzato"},"_links":{"self":[{"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/posts\/11716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/comments?post=11716"}],"version-history":[{"count":6,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/posts\/11716\/revisions"}],"predecessor-version":[{"id":11730,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/posts\/11716\/revisions\/11730"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/media\/11717"}],"wp:attachment":[{"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/media?parent=11716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/categories?post=11716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/tags?post=11716"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/axevera.com\/en\/wp-json\/wp\/v2\/yst_prominent_words?post=11716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}