years mortgage rates have stagnated in recent months, but soon it may be different. The banks began to prepare it for this. At the same time, the trend of recent months is confirmed, when the gap between the annual rates, with short and long fixations, is widening. One-year fixations are dra ptilet.

The development of annual rates in May was basically no different from the previous month. On average, the rate of all provided mortgages, expressed by the FINCENTRUM HYPOINDEX indicator, increased by one hundredth of a percent to 5.52% and thus returned to a new level. In addition, the May statistics confirm the emerging trend of recent months, namely the widening gap between the annual rates, including the part-time and short-term periods. Now this difference in ptiletch and single-fix fixation was almost a quarter of a percentage point.

These differences are logically reflected in the preferences of the client at the agreed time of fixation. Hypoten banks agreed on a total of 6,096 mortgages in May this year, of which mortgages with a one-year fixation accounted for only 11.6%, while a total of 61% of clients applied for mortgage applications. Just for comparison. In May last year, a total of 9,433 vr was provided and according to the one-year fixation to ptilets, the percentage was 20.6% to 30.4% in favor of ptiletch fixation, the remaining 49% fell to the other fixations.

Graph 1: Distribution of newly provided mortgages in relation to the chosen period of fixation (May 2008)

The set of accompanying text to the current values ​​of the FINCENTRUM HYPOINDEX indicator is also a prediction of the development of annual rates in the following months. The development of annual rates in May was marked by stagnation and calm, however, as is now known, it was an imaginary calm before the storm.

If we stated in the commentary to the April Hypoindex that further development will be influenced mainly in, resp. the rate of growth and decline in inflation, our estimates have been confirmed. Inflation in the Czech Republic will not fall as fast as generally expected due to rising oil and food prices worldwide, and the market is responding to this. The constant high inflation significantly increases the probability of the reaction of the European Bank in the form of additional base years.

As a result of the increased effects and preparations for the NB’s decision, there are, among other things, the number of years of rates on the interbank market, to which mortgage banks responded in the first weeks of June in addition to years of rates, especially mortgages. Raiffeisenbank, Hypoten banka, esk spoitelna and Komern banka joined us. The further development will depend on the actual steps of the NB.

From the annual rates of the largest mortgage providers in the Czech Republic, it will logically be reflected in the average market year mortgage rates recorded by the FINCENTRUM HYPOINDEX indicator. In June, therefore, we will open the entrance to the next age camp.

Graph 2: Hypoindex May 2008

Graf (Zvtit graf)

Where can you learn?

The biggest disputes related to the mortgage are the cost of processing a mortgage, including The bank will release this fee to its clients as part of marketing events, and Raiffeisenbank has decided to cancel it in full since June. This fee, as well as the fee introduced at the end of its operation on the Czech market, is not charged by mBank.

The Czech Insurance Company has announced the provision of holiday fees for the processing fee, and its clients may, in addition to the event taking place, claim a discount on the insurance contract agreed to finance the property. For both real estate and households, the Czech insurance company offers a discount of 30%, for the entire maturity of the mortgage. Clients who apply for the period from June 20 to August 31 will be entitled to favorable conditions.

From 1 June, Wstenrot hypoten banka offers rates for several years. Snen se tk refinannho vru REFIN. Clients who transfer their mortgage to Wstenrot by the end of June will not be reimbursed by the bank for the processing fee, and the bank will accept the original estimate of the property under certain conditions.

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Pehled nkterch give Fr. hypotkch agreed during the past month is given in the following table:

Summary for May 2008 (gives salary for natural persons)
Rate fixation period:all fixations total1 year5 let
Change from last msci (bp) *+1+50
Prmrn ve hypotky (tis. K)1 7342 2681 612
Msn spltka 1 million mortgages for 20 years (K)6 8886 9866 848
Msn spltka 1 million mortgages for 15 years (K)8 1808 2718 14
elovost vr:
According to vr for purchase on the total pot, incl58 %67 %63 %
According to vr for construction on the total sweat, incl23 %18 %27 %
According to other vr on the total sweat vr19 %15 %10 %

Source: Fincentrum
* 1 basis point (bp) = 0.01 percentage point


FINCENTRUM HYPOINDEX values ​​the development of mortgage prices over 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 returns is provided by the following banks: esk spoitelna, SOB, GE Money Bank, Hypoten banka, Komern banka, Raiffeisenbank, UniCredit Bank, Volksbank CZ a Wstenrot hypoten banka.


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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