Volume of newly granted mortgages without and with refinancing and increase
Volume of newly granted mortgages without and with refinancing and increase
141.3
CZK billion; ytd
New this year
192.7
CZK billion; ytd
New this year with refinancing and increase
CBA Commentary
In April, banks and building societies actually granted new mortgage loans worth CZK 44.2 billion. After seasonal adjustment, the April figures for new mortgages rose (to around CZK 40.5 billion compared with CZK 35 billion in the previous three months) and thus reached a level around 67% higher than in the first half of last year. Year-to-date, the total is CZK 141 billion, or CZK 48 billion more than a year ago. The volume of refinanced and increased loans (internally or from another institution) rose to CZK 17.2 billion in April. This is 143% above the average of CZK 7.1bn refinanced last year and 339% above the CZK 3.9bn refinanced in 2024. The share of refinanced loans in total mortgage originations then rose to 28%, above last year's average of 20.7%. It was up 90% year-on-year. Their total volume so far this year has reached CZK 193 billion, a 70% increase compared to January-April of the previous year.
Volume of newly granted mortgages without and with refinancing and increase
billion CZK
CBA Monitor
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Source of primary data
CBA Hypomonitor
Category
CBA Hypomonitor
Data frequency
Monthly
Note
Only new loans, excluding refinanced and increased loans. A more detailed breakdown of the CBA Hypomonitor data is available in its monthly data supplement, see: https://www.cbamonitor.cz/publicistika/soubory/cba-hypomonitor-data
The countercyclical capital buffer should rise to 1.5% from July 2027, which will increase banks' total capital requirements to around 17% next year, in response to continued growth in lending to households and firms and lower perceived risks in the banking sector. Again, we are also seeing stronger wage growth outpacing productivity. In the case of rising investment credit, however, this is a dilemma for macroprudential policy. In addition to the financial cycle, the results of stress tests, including concerns about the interconnectedness of the banking and government sectors, are likely to have factored into the decision. It leaves mortgage rules unchanged.
Jaromír Šindel
18. 05. 2026
Average mortgage rate rises to 4.52%
Jaromír Šindel
13. 05. 2026
This year is bringing a strong wave of expiring mortgage rate fixations, while the shorter fixation periods agreed in recent years will further increase these volumes in the years ahead. Building on the central bank’s latest estimate that mortgage fixations worth an average of CZK 534 billion per year will expire between 2026 and 2028, we present alternative interest-rate shock scenarios depending on the path of mortgage rates. In 2027–2028, the negative interest-rate shock is expected to ease to 0.1–0.6 percentage points, down from 1.1–1.4 percentage points this year. However, we also outline a more adverse scenario involving a stronger interest-rate shock. This year, the negative interest-rate shock affecting expiring mortgage fixations from the low-rate period will amount to roughly 3.5% of the average household income of mortgage applicants, although across all households the average impact will be about half that level. In both cases, the expected real growth in wages and salaries should be sufficient to offset the shock.
Jaromír Šindel
16. 04. 2026
The average amount of a new mortgage exceeded CZK 4.8 million
Jaromír Šindel
13. 03. 2026
February ranked among the five strongest mortgage months ever in terms of volume in billions of crowns, but also with a continued strong number of new mortgage originations.
27. 11. 2025
Comment by Jaromír Šindel, Chief Economist of the CBA: The Central Bank, through stricter requirements in the form of recommendations for investment mortgages, has decided to make a modest effort to correct mortgage demand on the real estate market, which remains very tight in terms of prices, mainly due to the supply side - see the drop in building permits.
16. 05. 2025
Despite the slight correction, April continued to see strong volumes of new mortgages supported by another slight decline in the average mortgage rate to 4.65%.
14. 04. 2025
March continued to see strong new mortgage volumes supported by another slight fall in the average rate to 4.68%
