Mortgage rates are finally falling and real estate prices aren’t far behind. That’s the message of the Czech economist Lukas Kovanda, who writes that those who can afford to wait before buying their new home could be able to take advantage of both trends. He notes that the beginning of the fall in mortgage rates began for real in June, when Komercni banka joined the growing trend which is unlikely to slow down even by August. This has seen rates fall to as low as 1.69 percent for a 5-year fix on a 30-year mortgage from mBank. “It’s probably that mortgages will continue to get cheaper,” wrote Kovanda. “Banks won’t say this categorically, of course, because that would inspire potential clients to wait with their mortgage applications. But that’s exactly what seems like the most reasonable approach right now.”
