Over one-third of Czechs use mortgage loans to buy real estate poll.

By bne IntelliNews July 4, 2011
Over one-third of Czechs use mortgage loans to buy real estate, CTK newswire reported citing a poll by Median agency. Almost 29% of the respondents said they use the mortgage loan to reconstruct a home and nearly a fifth said they use the loan to build a house. Czech banks provided 5,857 mortgage loans in May 2011, the highest number since June 2008, the Fincentrum Hypoindex indicator showed. The average interest rate fell to 4.24% from 4.28% in April. The market might deteriorate in the months to come as the governments austerity measures are to hurt incomes and the central bank is expected to raise interest rates.
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