The bank Česká Spořitelna extended almost 26,500 housing mortgages worth almost CZK 50bn in 2015. The value of newly extended mortgages increased by almost 40% y/y. The bank has informed that it has reduced the interest rates on mortgages with effect from mid-February 2016. The lowest fixed rate for five-year fixations will start at 1.99% p.a. and variable rate will start at 1.85% p.a.