Mortgage rates fell in November. Stle will fall so the average stka provided by the mortgage. November was the weakest mass of the year in this respect.

The aggregate indicator FINCENTRUM HYPOINDEX, with the average year of the rate of new mortgages provided, recorded a decline in the year’s rates over the past month. In November, banks operating on the Czech mortgage market provided mortgages at an average annual rate of 5.63%. Compared to the tenth month, it is 7 hundredths of a percentage point less.

A total of 4,488 mortgages were provided in November in the total amount of CZK 7.8 billion. Both in comparison with the previous month and in the international comparison, this weak decline in the client’s interest in the mortgage is confirmed.

In June 2008, mortgage banks provided 5,200 loans in a total volume of 9.2 billion. In November 2007, it was even 7,094 mortgages, their total amount amounting to more than 12.4 billion crowns.

The average number of mortgages provided in November fell to 1,739,389 crowns, which is the worst result for the year. On average, clients drew only in January and May 2008 (1.703 and 1.734 million crowns).

Moreover, since July 2008, this share has been steadily declining, which indirectly confirms that there is indeed a fall in prices on the real estate market. Comparing the data for July and November, we record a decrease of 4.09% for this indicator.

There is also an interesting shift in the individual fixation of annual rates, where during the last months there was a marked deviation of the client from mortgages with the five fixation, where recently there has been a number of annual rates. In November, the average rate of these mortgages rose by 3 hundredths of a percentage point to 5.54%.

The client therefore returns to the shortest – one – year fixations, or chooses a fixation other than five years. The average year rate for a one-year mortgage fell to 5.77% in November.

Future development of years rates

When publishing statistics for the month, we only assumed that the average year mortgage rates will increase in the coming months. The impulse of the number should initially be to increase the commercial mortgage rates of the largest mortgage providers on the market (Komern banka, Hypoten banka, Raiffeisenbank).

However, the consequences of the previous month were not confirmed, and years of rates in the month of November, to the delight of the client to go further, deepened their decline.

Explained for this effect can be two. Banks usually state in their rates at least the rate at which only a very creditworthy client can reach. And if they announce an increase in the annual rates, it is the first of these minimum rates. But statistics, such as FINCENTRUM HYPOINDEX, follow the real year of the rate at which mortgage clients really get the better, and therefore the effect of the changes in the annual rates announced by the banks is slightly weak, or it does not manifest itself at all.

In our case, we observe the effect of the total, not how the mortgages informed the bank about the real years of rates. Therefore, let us point out to the fact that the number of average years of rates is again reflected in the delay. For the time being, banks provide mortgages to clients for the two agreed years of conditions and statistics of the FINCENTRUM HYPOINDEX indicator at the end of the year and at the turn of the year (December, January).

Summary for November
Fixation period of the rate years all fixations 1 year 5 let
Hypoindex5,63 %5,77 %5,54 %
Change from last msci (bp)-7-33
Prmrn ve hypotky (tis. K)1 7391 9801 590
Msn spltka 1 million mortgages for 20 years (K)6 9517 0346 902
Msn spltka 1 million mortgages for 15 years (K)8 2398 3168 193
elovost vr:
According to vr for purchase on the total pot, incl62 %69 %60 %
According to vr for construction on the total sweat, incl21 %23 %18 %
According to other vr on the total sweat vr17 %8 %22 %

Indicator methodology HYPOINDEX FINCENTRUM: HYPOINDEX FINCENTRUM values ​​of mortgage prices in time. It is out of the average year rate at which providers are in a given calendar month new mortgages for individuals. The weights are the volumes provided incl. Input data for deposits is provided by the following banks: esk spoitelna, SOB, GE Money Bank, Hypoten banka, Komern banka, Raiffeisenbank, UniCredit Bank, Volksbank CZ and Wstenrot hypoten banka.

Conditions inside the indicator HYPOINDEX FINCENTRUM: FINCENTRUM HYPOINDEX can be freely available only with the designation “FINCENTRUM HYPOINDEX” and the source “” (in the case of Internet media with an active click on

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