January 24, 2020 / 2:33 PM / 2 months ago

Czech new mortgage volume drops 9.8% in 2019 on tougher rules -central bank

PRAGUE, Jan 24 (Reuters) - The Czech central bank said on Friday the volume of new mortgage loans including refixings and refinancing dropped 9.8% year-on-year in 2019, in line with its expectations after tighter lending recommendations came into effect.

The bank said mortgage lending developments last year were also influenced by higher volumes in 2018 before new recommendations on borrowers’ debt and income requirements took effect.

It said new mortgage volume net of interest rate refixings and refinancing of existing mortgages dropped by 13.6%. (Reporting by Jason Hovet Editing by Robert Muller)

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