Eduard Hromada

Hysteresis in the Czech Housing Market: Price Dynamics over the First Complete Mortgage Interest Rate Cycle, 2018–2026

The period 2018–2026 offers the first opportunity to observe a complete, closed mortgage interest rate cycle in the Czech Republic: rates fell to a historic trough of 1.98% (March 2021), rose to 5.37% (September 2023) and stabilized around 4.5% from 2025. This paper examines whet...