Abstract
The aim of this paper is an empirical analysis of mortgage volume in the Czech Republic and factors identification of the increasing trend of the mortgage volume in the period from 2001 to 2007. Firstly, analysis of quarterly time series of mortgage volume and average mortgage rate are performed. Consequently, causality between mortgage volume and average mortgage rate is analysed. The morgage rate is the most important factor for economic subjects decision of residential investment. Afterwards, it is analysed causality between mortgage volume and selected factors via multiple regression analysis. Based on this analysis, influencing factors for multiple regression analysis describing mortgage volume are selected. Our empirical analysis validate the causality between mortgage volume and mortgage rate, unemployment rate and price level of real estates. Part of this paper is also economic eduction of causality and estimation of expect progress of mortgage volume especially in connection with present economic and business recession.
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