Average mortgage rate falls below 2 percent for first time

Average mortgage rates in the Czech Republic have reached a new record low. The figure in March was 1.97 percent, down from 2.02 percent the previous month, according to consultants Fincentrum, who have been monitoring the market since 2003 and do not take into account fixed-rate duration. Fincentrum analyst Josef Rajdl told the Czech News Agency that mortgage rates were likely to fall further. He said anybody with sufficient income seeking a loan of up to 85 percent for a longer fixed-rate period who was not now being offered less than 1.9 percent was “at a bad bank”.