Czechs took advantage of the record low offers by taking out mortgages and refinancing in December.
The average mortgage interest rate reached an all time low of 3.17% according to Fincentrum’s Hypoindex.
The total amount of mortgages for the year was the second highest on record with only 2007 exceeding it. However, not all of this volume was new mortgages with an estimated 20 to 30% being refinancing.
Czechs took advantage of the record low interest rates in 12/2012
Mortgage market last year grew by three percent. It was thus the second largest in history: In Czech In English (Google-Translate)
Hypoindex in December 2012: Maximum volumes and lowest rates – In Czech In English (Google-Translate)
Record low interest rates are a major factor which we feel will positively affect the property market in 2013.
Are you able to take advantage of these record low rates? Are you fixed into a high rate from previous years and would like to refinance? Contact me and we will give you a free assessment of your options.
Updated/Aktualizováno: July 22, 2014,
