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Homeowners, who relaxed a little at the beginning of the year, now have to dig deeper into their pockets for housing loans. That says the mortgage index from mortgage comparison platform Moneyland. “Fixed rate mortgages have been rising again for a good month and are no longer far from their October 2022 high,” Moneyland mortgage specialist Felix Oeschger said on Tuesday.
At 2.95 percent for a five-year fixed-rate mortgage and 3.08 percent for a ten-year fixed-rate mortgage, Moneyland’s mortgage index is currently at its highest level this year. According to Moneyland, the peak has not yet been reached. “I assume that Swiss fixed-rate mortgage rates will exceed 2022 peaks this year,” Oeschger says.
The reason for this assumption is that the inflation figures for February announced on Monday were surprisingly higher than expected at 3.4 percent. This means that the Swiss National Bank SNB could raise its key interest rate this year more sharply than experts had previously expected. This in turn will lead to more expensive mortgage interest rates. (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.
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