Mortgages in October 2026: ČBA rates up for a fifth month, the ČNB decides on 5 November

Czech mortgages kept getting dearer in October 2026: banks advertised 5.79 % on average (Swiss Life Hypoindex, an index of advertised rates), up from 5.42 % in August. Mortgages actually signed in August averaged 5.00 % (ČBA Hypomonitor, the Czech Banking Association's mortgage statistics), the fifth monthly rise in a row and the highest since mid-2024.

Commentary as of 9 October 2026. The Hypoindex was 5.51 % in September and has now risen for seven months in a row, so over the coming months realised rates are more likely to catch up with advertised ones than to fall. Only ten-year fixations (6.35 %) and five-year ones above LTV 80 % (6.15 %) average more than 6 %.

The ČNB (Czech National Bank) repo rate stays at 3.75 %, and the Bank Board next meets on 5 November 2026. A rise to 4.00 % is possible but not certain. If you are buying, refixing or thinking of refinancing, do not wait for rates to come down. Work out your budget at today's numbers.

How expensive are Czech mortgages in October 2026?

The 13 % fall in volume in August is not a sign that demand has turned. The average mortgage hit a record because flat prices keep climbing: older flats are up 14 % year on year according to ČBA, and Prague flats 11 %.

We track Czech mortgage rates month by month since January, with the outlook, in a separate overview.

Have Czech mortgages gone above 6 %?

Not the market as a whole. The average bank offer in October 2026 is 5.79 % according to the Swiss Life Hypoindex, below six per cent. Only the long fixations have crossed 6 %: the ten-year averages 6.35 % at LTV up to 80 % and 6.61 % above it, and the five-year 6.15 % above LTV 80 %.

Compared with September, the ten-year fixation rose 0.36 pp, the five-year 0.33 pp to 5.84 %, the three-year 0.26 pp to 5.53 % and the one-year only 0.13 pp to 5.42 % (all at LTV up to 80 %).

Headlines about a seventh month of rises and our fifth month do not contradict each other, because they describe two different measures. The Hypoindex tracks advertised rates in bank price lists and has risen for seven months to October. ČBA Hypomonitor tracks rates on mortgages actually signed and has risen for five months to August. Both series side by side, month by month, are on our Czech mortgage market data page.

What the banks did

• Česká spořitelna raised most fixed rates by 0.3 pp from 11 September 2026; its standard offer starts at 5.39 %.
• Moneta went the other way on 10 September and cut its purpose mortgage to 4.59 %, for a one-year fixation with an active account, insurance and LTV up to 80 %.
• Komerční banka has offered rates from 5.19 % since 3 August.

Across the market, banks are raising mainly the longer fixed periods, because the five-year swap sits 0.6–0.8 pp above three-month PRIBOR. That makes a one-year fixation the cheapest choice at the time of writing. Individual offers range between 4.7 and 5.8 %, depending on LTV, the fixed period and insurance, and run higher for a ten-year fixation.

What is coming in the next few weeks

In mid-October ČBA publishes its Hypomonitor for September, and after September's price-list increases another rise in realised rates is likely.

On 5 November 2026 the ČNB Bank Board meets with a new forecast. Property prices and credit growth argue for a rise to 4.00 %, while inflation of 1.9 %, below the 2 % target, argues against. Fixed mortgage rates already reflect much of a possible hike, so even if it comes it should not cause a jump, and one-year fixations would feel it most.

The last meeting of the year follows on 17 December 2026.

What do higher rates mean for your payment?

Every percentage point on a CZK 4 million mortgage over 25 years adds roughly CZK 2,300–2,400 to the monthly payment. Over 30 years the gap between the realised average and the price lists looks like this:

Rates are unlikely to fall in the coming weeks, so there is little point waiting for a “better month”. Concentrate on what you can control: keeping LTV within 80 %, comparing 2–3 offers and choosing the length of the fixed period. How to push the rate down is explained in How to negotiate a lower mortgage rate.

If your fixed period is ending

Your bank must tell you the new rate at least 3 months before your fixed-rate period (fixace) ends. If yours ends by spring 2027, expect rates close to today's. Every extra percentage point on a CZK 4 million loan over 25 years costs roughly CZK 2,300–2,400 a month.

Do not accept your current bank's offer on autopilot. If you expect rates to fall later, a one-year fixation can serve as a bridge, as long as you accept that you will be negotiating again in a year.

If you are considering refinancing

You can repay the mortgage free of charge and move to another bank at the end of the fixed period, and within 3 months of being told the new rate. Outside these windows the bank may charge at most 0.25 % of the amount repaid early for each started year left until the end of the fixed period, and no more than 1 % in total.

Switching mid-fixation at today's rates rarely pays. It can, if your rate is well above current offers and the fixed period still has a long way to run. Run the numbers in the refinancing calculator.