Zadlužení českých domácností ve vztahu k hypotečnímu trhu

Abstract

The diploma thesis is focused on the issue of indebtedness of Czech households in relation to mortgage market, specifically on proving the existence of relationships between total household indebtedness and selected economic variables that may affect its development. The aim is to assess the impact of selected determinants of the mortgage market on the development of total household debt in the Czech Republic within period December 2005 – December 2019. The determinants include annual percentage rate of charge on house purchase and volume loans on house purchase. Other auxiliary variables are the general unemployment rate, consumer price indices, total increase of population, industrial production index and net foreign assets. Based on the results, it was found that the determinants annual percentage rate of charge on house purchase and volume loans on house purchase positively affect the total indebtedness of households. Linear regression analysis revealed the existence of lags in the model. Lags have been considered because some phenomena in the economy may react with delay to given stimulus. In the case of loan volumes, the delay is significant by the 11th month and for the variable annual percentage rate of charge on house purchase the delay is significant for the 2nd and 5th months at the 5 % level of significance. The estimated model can be used for economic policy management, risk assessment in mortgage lending, for further study or prediction purposes.