Some of local banks have pushed their mortgage interest rates below 3 percent, according to a recent ČTK poll. Many mortgages are now fixed for three or five years and do not cover the full price of the property, while floating interest starts at around 2.5 percent, according to the poll. At 2.89 percent, Raiffeisen Bank has the lowest interest rate, while Komerční banka cut its interest rate on three-year loans to an all-time low of 2.99 percent. Česká spořitelna’s lowest interest rate, meanwhile, is 3.04 percent for loans with collateral of up to 70 percent of the real estate value, according to the poll. Experts claim, however, that mortgage interest levels have not yet hit bottom.
