The average mortgage rate at the beginning of August fell to 6.19 percent from 6.24 percent in July, decreasing for the third month in a row. This follows from the data of the Swiss Life Hypoindex, which is processed on the basis of data on the fifth working day of each month. The methodology reflects … Read more
The current world is certainly not ideal in many respects, but one of its features will probably be fondly remembered by investors for years to come. And that for a climate of high yields. When the year 2025 is written, for example, and inflation shows half a second percent, people in pubs will show their … Read more
Škoda is at risk of losing its flagship electric car. The Germans are seeking to relocate the production of enyaqs. Thousands of deferred mortgages are given a chance, banks allow clients to pay most of their wages. Millions for lawyers – the king of chefs Pohlreich sent the company into insolvency, closed a year-long dispute. … Read more
Apartments may become cheaper by up to sixteen percent this year, and they may not recover from price drops until at least the end of 2025. This is at least the more dramatic of the two current scenarios for the development of apartment prices, according to the Czech National Bank. However, even the more optimistic … Read more
CNB Governor Aleš Michl is fulfilling his long-term goal of concentrating one hundred tons of gold in the Czech National Bank. Only during his tenure at the head of the bank, approximately five and a half tons of gold were added to its safes, while the purchases of the precious metal are still increasing. From … Read more
On Thursday, the Banking Council of the Czech National Bank (ČNB) eased the rules for granting mortgages. From July, it will no longer require applicants to meet the limit of debt repayments to net monthly income (DSTI). Other rules remain in effect. Experts agree that the move will revive the mortgage market only slightly. According … Read more
“Credit indicators came back into play last year, and with that came the rise in interest rates. All in all, it had a crushing impact on the mortgage market, this is especially true of the DSTI indicator, which limits the amount of the monthly repayment depending on income,” said CNB councilor Jan Kubíček in an … Read more
A prominent figure is slowly disappearing from the shareholder structure of Moneta Money Bank. Klaus Umek, a bon vivant and investment banker, got rid of almost half of his share in the bank in mid-April. The head of the activist fund Petrus Advisors, who in 2021 loudly protested the merger of Moneta and the banking … Read more
The high volume of refixed mortgages this year stems from the previously popular five-year interest rate fixation in combination with the tightening of the conditions for obtaining a loan, which the Czech National Bank introduced in the fall of 2018. Many people sped up their purchases then. According to CNB statistics, people borrowed during 2018 … Read more
The average wage in the Czech Republic increased by 7.9 percent year-on-year to 43,412 crowns in the fourth quarter of last year. However, after accounting for inflation, which reached 15.7 percent in the same period, wages decreased by 6.7 percent in real terms. It thus fell for the fifth quarter in a row, by 7.5 … Read more