Comment by the Czech Bar Association
The number of new mortgages in May fell by 13% month-over-month to 7,871, which is 20% higher than a year ago. We estimate that, after seasonal adjustment, the number stands at around 7,284, approximately 6% below the average (7,729) for the previous three months. Since the beginning of the year, the number of new mortgages has reached 37,700 (+27.5% year-on-year). The growth in the number of new mortgages over the last three months—March through May—implies that the total for this year will reach around 92,500. This would be close to the average of around 92,000 from 2016 to 2018, but still well below the 114,000 recorded in 2021. However, following the CNB’s tightening of conditions in April, a lower number of new mortgages can be expected. With a 7% downward correction in the number of new mortgages by the end of the year, this would bring the total for this year to around 81,000, which would be 6.3% higher than last year.
Number and total amount of new mortgages granted, including refinancing and loan increases
Source of primary data
ČBA HypomonitorCategory
ČBA HypomonitorData frequency
monthlyNote
This includes new loans, including refinanced and increased loans.A more detailed breakdown of data from the ČBA Hypomonitor is available in its monthly data supplement; see: https://www.cbamonitor.cz/publicistika/soubory/cba-hypomonitor-data
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