published: 18.12.2013, 08:21 | updated: 18.12.2013 08:30:55
Prague - The average interest rate on mortgage loans in the Czech Republic rose to 3.09 percent in November from 3 percent in October, while in July it was at 2.95 percent, the lowest level since the start of monitoring in 2003, according to Fincentrum Hypoindex data.
Interest in mortgage loans decreased furtherr.
The number of clients taking mortgage loans in November was 421 lower than in October. A total of 8,267 clients signed mortgage contracts.
The volume of mortgage loans granted in November fell by Kc665m to Kc13.428bn.
The number and volume of mortgage loans has been falling for the third month in a row.
"Banks have improved profit margins slightly at the end of the year. Discount campaigns of banks in the second half of the year did not allow them to increase five-year interest rates at a time when the price of sources of medium-term money on the market grew," Fincentrum analyst Josef Rajdl said.
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