Czech mortgage rates hit six-year low but lending declines further in Oct 2011.

By bne IntelliNews November 18, 2011
Czech mortgage lending declined further in October 2011 although interest rates fell to a six-year low, the Fincentrum Hypoindex indicator showed. The value of mortgage loans reached CZK 9.82bn (EUR 383.1mn) as of end-October from CZK 10.38bn a month earlier. The number of signed credits fell to 5,821 from 6,291. The average interest rate dropped to 3.77% last month from 3.89% in September. The rates on the mortgages with a five-year maturity fell to 3.77% from 3.89% and on three-year mortgages to 3.91% from 4.08%.

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