The average interest rate for mortgages in the Czech Republic yet further in January to 2.34 percent, it’s all-time low. The previous low of 2.37 percent was set just a month earlier, according to Fincentrum Hypoindex. Since 2003, when the company first began following the rate, the highest the average interest rate ever hit was 5.82 percent. The volume of loans, however, fell to CZK 10.227bn, roughly CZK 4bn less than in December. But analysts from Fincentrum say this sort of month-to-month decline occurs each January. The company predicts that rates will continue to fall as banks who didn’t match the rates offered by their competitors will do so in the new year.
