Many banks extended their special offers and the mortgages have better conditions now


Many banks extended their campaigns and they are still offering mortgage loans for better conditions. This situation should be the same the whole May.

The major change happened recently, when the Czech National Bank increased the prime rate finally. However, the pressure of competition between banks and the interest of the banks to sell more mortgage loans still keeps the interest rates low, but there is a possibility of an increase in interest rates at the end of May or in the beginning of June.

That can cause a problem mainly in large cities, such as Prague, where is a very small supply of apartments which are demanded. The Czech economic is starting to slow down a bit so the interest rates might stay on current leven for a while.