Mortgage rates continue to grow, fix the advantageous rate in time

On the 2nd of November 2017, for the second time this year, the Czech National Bank increased the interest rates, after it did so for the first time almost in ten years this August. It didn’t take long for the rates of mortgage loans to rise and the banks announced increase of interest rates virtually immediately.

Interest rates will rise next year

Current interest rates for 80% mortgages are usually above two percent. The growing trend of interest rates should continue also in the following year. An experienced mortgage specialist can help you find the most suitable conditions for your financing. Especially in these days, the situation is all the less clear, since bank offers dynamically change every week. “Interest rates of mortgage loans change unevenly in the individual banks and they also differ in relation to the duration of fixing. That’s why even today we can find the interest rate of 1.79% p.a. for shorter fixing without the need to accept further additional products in the bank, except for a current account,” says Pavel Čech, founder of the mortgage portal Bezporadce.cz.

Fix the low rate right now

If you’re planning real property financing and you already know what is the approximate amount of the funds you’ll need, then you can also choose the opposite tactics. First, you’ll arrange a mortgage, secure and fix advantageous conditions and then you can choose the real property for purchase during the several upcoming months, carry out the reconstruction or refinance the current loan. Only a few people know about these possibilities and they handle the financing in advance, but this makes sense again in the current new trend of rising interest rates.

You can ask specialists on real property financing about securing of advantageous conditions and arrangement of a mortgage loan directly.

The article was also published on the 20th of November 2017 on the portal Bydleni.cz.