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Good advice on mortgages is currently in demand. Even if the generally anticipated Swiss National Bank’s recent interest rate hike has little impact on Swiss fixed-rate mortgage benchmark interest rates.
Interest rates are currently around 3%. Current interest rates are similarly high for nearly all maturities, as the Moneyland comparison service points out in its latest mortgage index.
Two-year fixed-rate mortgages currently trade at an average of 2.94 percent, five-year 2.85 percent and ten-year 2.87 percent.
Ten-year fixed-rate mortgages are cheaper than two-year mortgages
Mortgage lenders, on average, no longer charge premiums for longer maturities, as evidenced by current average interest rates for fixed-rate mortgages. The average reference interest rate of 2.94 percent for two-year fixed-rate mortgages is slightly higher than for ten-year fixed-rate mortgages, which is currently 2.87 percent.
“This is an exceptional situation and shows that the market expects interest rates to fall again in the coming years,” said Felix Oeschger, an analyst at Moneyland.ch.
Further increase expected
The latest rate hike will likely not be enough to maintain price stability in the long run, SNB Chairman Thomas Jordan said last Saturday. Many experts currently assume a further 0.25% rate hike in September 2023.
Mortgage interest rates may increase accordingly. (rae/SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
