iHned: Volume of mortgages up over 20 percent in 2016 for new record

Czechs borrowed a record amount in mortgage loans last year, iHned.cz reported on Tuesday. The news website said market leader Hypoteční banka had estimated the total volume of such borrowings for 2016 at CZK 225 billion – an increase of 22 percent on the previous year. Hypoteční banka attributed the growth to the healthy economy, long-term low interest rates and new legislation concerning consumer borrowing that took effect at the start of December.

Author: Ian Willoughby