Mortgage rates are rising again
The period of steadily cheaper mortgages has ended. The Swiss Life Hypoindex reached 5.32% in July 2026, its fourth consecutive monthly increase and a return to the November 2024 level. The index stood at 4.53% in January, 4.52% in February, 4.53% in March and 4.58% in April. The rise then accelerated, with six banks increasing their rates in June.
Monetary policy points in the same direction. The CNB raised its two-week repo rate by 0.25 percentage points to 3.75% from 19 June. The discount rate is 2.75% and the Lombard rate 4.75%. The next Bank Board meeting is scheduled for 6 August 2026. A mortgage decision should therefore not depend on a rapid return to cheaper borrowing.
Comparing bank offers
The following advertised rates are from Hypoindex.cz as of 24 June 2026. The columns show one-, three- and five-year fixed periods; a dash means no figure was listed.
| Bank | 1 year | 3 years | 5 years |
|---|---:|---:|---:|
| Air Bank | 4.79% | 4.89% | — |
| Česká spořitelna | 5.14% | 4.94% | 5.14% |
| ČSOB-Hypoteční banka | 5.19% | 5.09% | 5.29% |
| Fio banka | 4.58% | 4.48% | 4.58% |
| Komerční banka | 5.09% | 5.08% | 5.49% |
| mBank | 5.99% | 4.99% | 5.09% |
| Moneta Money Bank | 4.19% | 4.59% | 4.69% |
| Partners Banka | 5.09% | 5.69% | 5.69% |
| Raiffeisenbank | 4.99% | 5.04% | 5.19% |
| UniCredit Bank | 5.09% | 5.49% | — |
Only Moneta Money Bank and Fio banka remained below 5% in this comparison. A published rate is not an automatic offer to every borrower, however. The final terms depend in part on LTV, the loan-to-value ratio, and each lender's individual assessment.
How to compare offers
Do not rely on one lender or the lowest headline number. Ask several banks to quote for the same loan amount, property and fixed period. This makes it possible to compare the rate together with fees, required ancillary products and early-repayment conditions.
LTV is an important part of pricing. A larger equity contribution may improve the terms, although the lender's individual decision is what ultimately counts. Work with a realistic property value and preserve a financial buffer after contributing your own funds.
A shorter or longer fixed period?
There is no universally correct term in a rising-rate environment. A shorter fixed period lets you compare the market or refinance sooner, but it also exposes the household budget to another increase when the rate is reset. A longer fixed period provides payment certainty for longer while locking in today's terms for a greater period.
The choice should reflect how much payment volatility the household can absorb and how highly it values predictability. It should not depend on a single forecast for future rates.
Refinancing when the fixed period ends
As the end of a fixed period approaches, compare the existing lender's new offer with alternatives. Use quotes based on the outstanding loan and current property value rather than public rate cards alone. Review the new fixed period and all attached conditions as well as the headline rate.
If another lender offers a better overall package, the mortgage can be refinanced when the fixed period ends. A sound strategy does not bet on a rapid rate fall; it compares real offers and chooses a payment the budget can safely carry even if rates rise further.
Need help choosing a mortgage or property? The Klik Home team works with trusted mortgage advisors and can arrange a consultation.
Sources: CNB, Swiss Life Hypoindex, Hypoindex.cz.
