Mortgage volume in Czechia rose 2% in July to CZK 37.8 billion

Banks and building societies in Czechia provided mortgages worth CZK 37.8 billion in July, up 2% from June, according to the Czech Banking Association’s Hypomonitor. New loans without refinancing rose 3% to CZK 30 billion, while average interest rates on new mortgages edged down from 4.56% to 4.53%. The number of new mortgages increased 0.9% month-on-month to nearly 7,000, 34% more than a year ago. Total mortgage volume this year has reached CZK 222 billion, up 56% year-on-year. Average new mortgage size climbed to CZK 4.28 million, 14% higher than in July 2023.