Saturday May 21, 2022

The end of the year was for banks. They provided mortgages for more than 10 billion

Dreams of years of rates took. In the last month of last year, mortgage banks overtook and arranged mortgages for more than 10 billion crowns. We last won for this goal in July 2008.

The end of last year went to the mortgage banks at one. With the exception of the record year of 2007, banks have never reported such mortgage rates in the last month as in December.

Despite the number of working days and despite the predominant atmosphere, the banks managed to negotiate 6106 new turnover contracts with clients in the total amount of 10.289 billion crowns. This is about 2.3 billion more than in the previous month, and 4.3 billion more, not in the same period of 2009.

The last time the banks managed to exceed the 10 billion mark was in July 2008, ie only before the first, not the global economy was paralyzed by the financial crisis and the subsequent economic recession.

Due to the improving macroeconomic situation in the Czech Republic, the very favorable development of annual rates or the decline in property prices, banks closed 50,386 mortgages for the whole year, totaling 84.26 billion crowns. In the interim, this means 13% nrst both in sweat and in the volume of mortgages provided.

“The mortgage provided in 2010 for more than 84 billion crowns represents a very solid result, which is basically in line with our estimates,” commented Jan Sadil, Chairman of the Board of Directors and CEO of Hypoten banka.

There is a growing interest among clients in fixation

In the past month, mortgages with a rate fixation of five years (51.9 percent) recorded the largest share in the total volume of mortgages provided. Out of a total of 6,106, 3,421 clients opted for this fixed variant, ie 56 percent were short.

On average, the mortgage rate with the five-year fixation period fell by 11 basis points in the meantime and has temporarily stagnated at 4.21 percent. On the contrary, a slight “step out of the scene” was recorded by mortgages with a variable annual rate, which accounted for 3.5 percent of the total number of mortgages provided.

Under competitive pressure, rates fell rapidly

Despite the fact that the forecast is expected to increase with the number of years, Fincentrum Hypoindex continues to show a declining trend. The average rate of all mortgages provided in the past month fell by a tenth of a percentage point to 4.23% and again approached the one percent mark. In the sum for the whole year, the mortgage rate fell by more than 1.25 percentage points for the average year.

As for the individual fixations, the largest interim decline in year rates occurred in mortgages with an annual rate fixed for one year and five years (-11 basis points). On the other hand, mortgages with a variable annual rate, which rose by one hundredth of a percentage point in the meantime, recorded a slight increase.

Where you can save

Volksbank offers a dispute over the entry fee for the payment of the mortgage, where clients pay a symbolic one crown for the processing of the level of documentation by 21 February. The offer applies to both standard mortgages from the bank’s offer and American mortgages. Raiffeisenbank, mBank and esk spoitelna now offer a fee for the refinancing bag of 999 K. Mortgages with a zero fee on the Czech market.

Summary for December 2010
Fixation period of the rate years all fixations 1 year 5 let
Hypoindex 4,23% 4,69% 4,21%
Change from last msci (bp) -10 -11 – 11
Prmrn ve hypotky (tis. K) 1 685 1 650 1 560
Msn spltka 1mil. mortgages for 20 years (K) 6 180 6 430 6 172
Msn spltka 1mil. mortgages for 15 years (K) 7 511 7 748 7 503
elovost vr:
According to vr for purchase on the total pot, incl 65% 66% 62%
According to vr for construction on the total sweat, incl 18% 22% 20%
According to other vr on the total sweat vr 17% 12% 18%

Index of values ​​of mortgage price developments over time. It is out of the average year rate at which providers are in a given calendar month new mortgages for individuals. The weights are the volumes provided incl. Input data for deposits is provided by the following banks: esk spoitelna, SOB, GE Money Bank, Hypoten banka, Komern banka, Raiffeisenbank, UniCredit Bank, Volksbank CZ and Wstenrot hypoten banka.

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