The average mortgage rate in the Czech Republic has been falling for nine months recently and stopped at 2,36 %. In October this year, the largest number of people took a mortgage and the amount of provided loans was the highest as well. Banks provided a total of 7 027 mortgage contracts last month, which was about 668 more than in September. In total, banks borrowed almost 17 billion CZK in October, which is much higher compared to last year. Several domestic banks offer the mortgage that can be repaid up to 40 years, in some cases even up to 75 years of age. According to a chief economist at Czech Fund, banks are thus trying to provide service to younger people up to the age of 35, who, by spreading the repayment period to just forty years could reduce the monthly payment.