Czech mortgage rates highest in 20 years, major fall in new loans

The average interest rate on newly granted mortgages in Czechia was 5.86 percent in October, up slightly from the 5.83 percent seen the previous month. These rates are the highest recorded in 20 years.

The number of mortgage loans given by banks and building societies in Czechia was 82 percent down year-on-year in October, a similar fall to in September.

Mortgage providers say new mortgage numbers went down by about 60 percent in the January to October period.