Mortgage rate fall lead to jump in new contracts

The average mortgage rate in the Czech Republic fell from 2.99 percent in February to 2.90 percent in March, according to data released on Wednesday by market analysts Fincentrum.

It was the biggest one-month decline seen in four years and led to a considerably higher number of new mortgage contracts being signed than in the previous months.

Interest rates hit a lot of 1.77 percent in the Czech Republic in December 2016. Since that time they have been on a generally upward trend.