Právo reports that the number of mortgages granted in January 2019 dropped significantly, largely due to quickly-rising interest rates. The average interest rate for January was 3%, which was significantly higher than the average 2.91% rate in December 2018.
4764 mortgages for a total value of CZK 10.93 billion, were granted in January, which was 1801 and CZK 4 billion lower, than the numbers in December.
In a year-on-year comparison, the figure for January 2018, was CZK 16 billion. Experts believe this reflects a significant cooling in the market and future growth is expected to slow considerably.
