Czech mortgage rates fell to a record low of 1.87 percent in June, with monthly payments dropping below CZK 5,000 on average, according to statistics published by Fincentrum. Analysts are already predicting that the trend will continue for the rest of the year. The low rates have already lead to more than 55,200 new mortgage contracts in the first six months of 2016. There were more than 12,300 new contracts, totaling CZK 23.8bn, signed in June alone, according to the data. More than CZK 15bn in mortgage loans were granted between January and June, writes Fincentrum, which has been monitoring the market since 2003. However, the Czech National Bank warns that low mortgage rates are risky, and is planning to tighten its recommendations on such loans, according to the Czech News Agency.
