Mortgages: Are They Getting More Expensive or Cheaper? Politicians Look for Causes as the CNB Raises Rates
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Both government and opposition politicians in the Czech Republic are now looking for reasons why mortgages are becoming more expensive. According to them, the Czech National Bank (CNB), which on Thursday raised its key interest rate, is to blame.
The CNB has also worsened its forecast regarding state deficits, that is, the difference between revenues and expenditures of the state budget. This change is another matter being discussed in the debate. However, the article points out that the situation on the market is not clear-cut.
The news website Kurzy.cz states in its article that politicians from both sides are mistaken in their assessment. According to it, the Czech Republic is heading this week towards cheaper mortgages rather than more expensive ones, despite the increase in the interest rate and the worse deficit forecast.
For people who want to buy a flat or house or already have a mortgage, this information is important. The interest rate affects the amount of the monthly payment. It is therefore worth following further developments and new information from banks and the CNB.
Sources: Zprávy Kurzy.cz
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