It is true that the decrease is very small, but the swing in the development of annual rates, which has been steadily increasing since the beginning of 2021, is about to be broken.
The index is based on the life offer of banks. The question is whether it is a permanent trend or just a passing trend. While Fincentra’s analysts believe that the decrease was caused by the limited supply of banks, market experts already emphasize that the sharp drop in mortgage income is behind the decrease.
If you offer…
This very small dream is caused by the four mortgage offers of some banks, values Ji Skora, mortgage analyst of the company Fincentrum & Swiss Life Select.
Mortgage rates at individual banks stabilized and did not rise accordingly. On the contrary, in some cases we have witnessed dream offers of rates for years. Banks are trying to fight for clients who can still pay off their mortgages, and with regard to the stabilization of the mortgage market, they can afford even more offers, Vojtch Prokop, marketing editor of the mortgage magazine Zaloto, told Lidovky.cz.
An offer usually means that someone is offering a product, in this case a mortgage, for a limited time at a favorable price.
I don’t see any action that would mean an annual rate. years, the rates are individual. And in general, the mortgage bank has not had clients lately. If we hear the word action, it’s just marketing, just a means to attract clients. Do they, hurry up, evaluate the situation on the mortgage market, who should not be named. He has been working in the field of mortgage sales, where he never fails to compare the offers of all mortgage banks from the position of a salesman.
The campaign is announced by Hypoten banka from the SOB group. Don’t miss the convenient annual rate and a 30 percent discount on real estate, check out its website. As a convenient rate, SOB offers a five-year fixed rate starting at 6.29 percent, in the event that the mortgage increases the value of the property to 70 percent of its value. Salary offer for so-called disputed residential mortgages. The condition for the loan is a property in energy class A or B.
and Raiffeisenbank also announced a limited action. I inform clients not only about the dream rate, but about free real estate appraisals. In this way, clients save several thousand crowns in debt, the bank said.
esk spoitelna does not have a limited sales promotion related to mortgages at any time, said Frantiek Bouc for Lidovky.cz, speaking of spoitelna, the long decisive game on the mortgage market. The insurance company increased mortgage rates by an average of 0.4 percentage points from the 23rd of March. years, the first-born rate fixed for five to eight years now stands at 6.24 percent. Better salary rate at refixac. When refixing mortgages, we set rates individually for clients, and in the case of residential mortgages, they range from just below six percent, to Bouc.
Neither Zuzana Filipov nor Moneta Money Bank will prepare a discount on mortgages, as promised by the big banks.
… react to a drop in income
For years, the rates will definitely take one thing: the banks have a few months in which the volume of loans provided will decrease. In the second quarter of this year, interest on mortgages fell by 45 percent compared to the previous quarter. The decrease in income is expected even further, said Ji Feix of Hypoten banka for Lidovky.cz.
Monet also recorded a decline. Due to the worsening measures of NB and the subsequent increase in annual rates, we see a decrease in the client’s income by the amount of the mortgage. In addition to the rates themselves, clients also look at the DSTI indicator (percentage of the total in all monthly installments for a certain monthly loan of the lender). However, with the increase in real estate prices, the DTI indicators (the ratio of the total debt of the real estate developer to his secured loan) and the LTV (the ratio of mortgage to real estate prices) are also a limiting factor, said bank spokeswoman Zuzana Filipov.
According to Hypomonitor, compiled by the Czech Banking Association, the volume of mortgages has been steadily decreasing since the beginning of this year.