Morning Bird: The average mortgage rate is the lowest since April 2022. Fiala will not run for the ODS chairman.
Hypoindex recorded the most significant month-on-month decline since this January, when it decreased by a tenth more. This decline is primarily due to a significant cheapening of five-year fixes. Petr Fiala will no longer run for the position of ODS chairman. Possible candidates for the party's leadership, such as the first deputy chairman Martin Kupka or the South Bohemian governor Martin Kuba, are being speculated about.
Mortgages dropped in October
The average mortgage rate at the beginning of October dropped and is the lowest since April 2022. It was 4.91 percent, which decreased by 0.08 percentage point compared to September, reported the server Ceskenoviny.cz. Five-year fixed rates are driving the decline, while three-year rates slightly increased. While in September their average offer rate was 5.15 percent, in October it dropped to 4.80 percent. Mortgages with a five-year fix are thus currently more advantageous than loans with a one-year fix, where the October rate was 4.92 percent. This is according to the data from the Swiss Life Hypoindex, which is processed based on the offer rates at the beginning of each month.
ODS will elect a new chairman
Prime Minister Petr Fiala announced on the X network yesterday that he will not run for the chairman of ODS again, reported the portal Ceskenoviny.cz. He informed the members of the wider leadership of the party, who met at the ODS headquarters in Prague.
"Politics also includes responsibility. The Together coalition did not win the elections. I took responsibility for the result as its leader. That's why I decided not to run for the chairman of ODS again, and I informed the executive board members of this decision today. Thank you all for your support, it was a great ride,"
Fiala stated.
The ODS Congress, from which Fiala's successor will emerge, will take place on January 17 and 18 next year.
Production of solar and wind energy grew faster than the demand for electricity
This year, for the first time globally, renewable energy sources produced more energy than coal. Total solar energy production in the first half of the year grew by a record 31 and wind energy production by 7.7 percent, according to a report by the energy think tank Ember. Solar and wind energy production together increased by more than 400 terawatt hours, which is more than global demand increased over the same period, reported the agency AP.
Italy proposes a ceasefire for warring regions during the Winter Olympic Games
Italy will submit to the United Nations a proposal for a worldwide ceasefire, to take place before the upcoming Winter Olympic Games to be held in Milan and Cortina d'Ampezzo. The initiative reacts primarily to the ongoing war in Ukraine and Gaza. The idea dates back to the time of the ancient games in Greece, where warring factions agreed to lay down their arms for the duration of the event, to enable athletes to safely reach ancient Olympia and return, reported Al Jazeera.
Sources: Ceskenoviny.cz, AP, Al Jazeera
