Mortgage interest rates increase for another month in row

The interest rate for new mortgages rose to 5.76 percent in August from 5.42 percent in July, according to data from the Czech Banking Association's Hypomonitor. The rate is now the highest it has been since the beginning of 2010.

Meanwhile interest in mortgages is decreasing, with a drop of 15 percent compared to July. The year-on-year decrease in applications for new mortgages rose to 78 percent.

Author: Anna Fodor