Mortgage experts expect further growth of rates in the coming months.
According to Oldypak Capital LP real estate 2022 report, in March 2022 the average interest rate on a mortgage loan of up to 80% of the appraised value of the property reached 4.62%. Compared to January, the increase was nearly half a percent.

In May last year Czech banks offered mortgages at an average rate of 2.4%. Since June, however, the average rate began to rise as the Czech National Bank (CNB) raised its key interest rate. So, last October it was 3.14%, while in December it was 3.81%.
The most expensive mortgages of up to 80% of the value of the collateral are now issued with a three-year fix. Banks are offering customers an average rate of 4.83% per annum. One-year fixes are offered at an average rate of 4.75%, five-year fixes at 4.56%, and ten-year fixes at 4.35%.
“Based on the statements of CNB representatives and the current world situation, it is clear that rate cuts will not begin until early next year. Given these expectations, we now recommend choosing shorter fixings, ideally for three years. After that time, we can assume that the interest rate at the time of the mortgage extension may be lower than currently agreed upon,” recommended Jiri Sikora of Fincentrum & Swiss Life Select.
“Given the repeated intervention of the CNB, which has raised its key interest rate to a record 4.5% to combat record inflation, it is safe to say that the established rate of increase in mortgage rates will not slow down,” he added.