Outside of years, a mortgage rate of about one tenth of a percentage point does not necessarily mean a major catastrophe for a long time. If the bag for it is not a problem, pay you a thousand crowns. If this is a problem, you should reconsider your mortgage.
years bank rates at one time
The influence of the years of the rate, when comparing the suitability and unsuitability of several mortgages, is sometimes greatly exaggerated. Those interested in vr are quite sensitive to the rate for many years and banks use the rate as one of the main tools of sales. At any given time, mortgage rates offered by individual financial institutions are mostly different, as the rates in the economy differ from the rates set by the central bank.
For those interested in a mortgage, this means in practice that the differences in the annual rates in the breath of one hundredth of a percentage point are completely negligible, and on average high prices they deal with them at all. For example, the mortgage payments of millions of mortgages with a 20-year maturity are only 55 crowns at rates of 5.0% and 5.1%. For two million mortgages, it is 110 crowns. At the above rates, there is no difference of power in t. The amount of one million mortgages would differ by 67 crowns at the rates of 10.0% and 10.1%. If the debtor had such differences at the beginning, then he would definitely not have a mortgage.
Development of years rates in time
People meeting the mortgage are at risk of the possibility of a high number of rates during the last year. The CoR, for example, has been raising rates very rapidly over the last year. The following table compares the average of the average years of mortgage rates provided in 2007 and 2008 (data are taken from the HYPOINDEX FINCENTRUM). Opt is an example of millions of mortgages with a twenty-year maturity.
How mesirones have increased the average year of mortgage rates and how the effect of such an increase on mortgage payments
|deposit of a mortgage deposit of 1 million crowns with a maturity of 20 years||average years rate|
|fixation 1 year||fixation 5 years|
|Meziron outside years rate o (in percentage points):||+ 1,59||+ 0,96|
|Meziron outside the (K):||+ 867 K||+ 531 K|
Note: The rates quoted in the years are taken from the HYPOINDEX FINCENTRUM. This is the average year of the rate at which new mortgage lenders were issued to individuals in the given period.
It is clear from the table that even a totally significant increase in the rate of one percentage point does not necessarily mean a large impact on the family budget. Respectively, he shouldn’t. Banks, however, have recently provided mortgage vry quite benevolent. A few years ago, during the period of the cheapest mortgages, an applicant with a gross monthly income of fifteen thousand crowns could get one and a half million crowns in some places. Or, for example, if the bank, considering the creditworthiness of the applicant, considers a financial reserve of thousands of crowns per month, the applicant should consider whether he wants to afford such a mortgage at all. However, these deposits cannot be reconciled if the bank has its own procedures and criteria, but on the contrary, very strictly.
You have to sweat with in reserve
Nrst rates of one percentage point should not initially. It is important to take into account the theoretical possibility of large external rates. The development of the economy for many years to come cannot be estimated. How to install mortgages for different high years rates, shows a few examples in the following table.
The average years of rates with ron and ppeteta fixation reached the same value of 5.52%. Some banks unify the rates for different fixations in years. If at any time in the future rates fell to 10%, the installment of millions of mortgages with a 20-year maturity would increase by CZK 2,760 compared to the current situation. For a double mortgage, however, it is 5,520 crowns, which can be a problem for many debtors.
|V spltek hypotenho vru 1 mil. crowns at different years rates and different maturities (K)|
|15 let||20 let||30 let|
|fix 1 rok: 2,97%||6 891||5 531||4 200|
|fix 5 let: 4,08%||7 437||6 102||4 820|
fix 1 rok i 5 let: 5,52%
|8 181||6 890||5 690|
|several annual rates||6,00%||8 439||7 164||5 996|
|6,50%||8 711||7 456||6 321|
|7,00%||8 988||7 753||6 653|
|7,50%||9 270||8 056||6 992|
|8,00%||9 557||8 364||7 338|
|9,00%||10 143||8 997||8 046|
|10,00%||10 746||9 650||8 776|
|12,00%||12 002||11 011||10 286|
|15,00%||13 996||13 168||12 644|
|20,00%||17 563||16 988||16 710|
Note: Listed in the historically lowest annual rates and the annual rate from November 2008 are taken from the FINCENTRUM HYPOINDEX. This is the average year of the rate at which new mortgage lenders were issued to individuals in the given period. Historically, the lowest mortgage rates cover the entire period of August and only 2005.
In this case, this does not mean that rates should fall to these values in the future. At present, analysts, on the contrary, assume that the NB this year will not proceed from outside the annual rates.
In the long run, however, a lot can happen in any economy, and even the theoretical risks should be considered by the beneficiaries in the weight beforehand. (Just to illustrate, he had an example: mortgages have been provided in the Czech Republic since 1995. It first fell below 10% at the end of 1998. For example, it was set at 5.25% throughout 2000. And by the time of the crisis in June 1997, it had risen to over 20%, and for the rest of 1997 ranged between 14.5% and 18.5%.)