Banks provided CZK 40.4 billion in mortgages in July, 7% more than last year

Banks and building societies provided CZK 40.4 billion in mortgage loans in July. Compared with July last year, this represents a seven percent increase, while mortgage lending fell by 17 percent compared with June.

New mortgages excluding refinancing declined by 16 percent month-on-month to CZK 30.8 billion. Average interest rates rose to 4.9 percent, up from 4.79 percent in June. The figures come from the Czech Banking Association’s Hypomonitor statistics.