30.06.2021 – 00:30
comparis.ch AG
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Press release
Comparis Mortgage Barometer for the second quarter of 2021
Mortgage rates: average maturities are becoming more attractive
The rise in mortgage rates that began at the start of the year paused in the second quarter. This is indicated by the latest edition of the Comparis Mortgage Barometer. “With hindsight, we can see that medium-term mortgages have become more attractive compared to long-term mortgages,” says Frédéric Papp, Silver expert at Comparis.
Zurich, June 30, 2021 – From March to June 2021, the indicative 10-year fixed mortgage rate was relatively stable compared to the previous quarter. At the end of June, it stood at 1.18%. The indicative rates for 5- and 2-year mortgages have also barely changed over the past three months. They stand at 0.92% and 0.86% respectively. This is shown by data from HypoPlus, the mortgage service of the Comparis group.
“The market is gradually becoming convinced that the recent rise in inflation is only a temporary phenomenon”: Frédéric Papp, Silver expert at Comparis, sees this as the reason for the stagnation of rates in the second quarter of this year.
Historically, the recent rate hike remains minimal anyway. By comparison, almost 10 years ago, the indicative 10-year mortgage rate was still above the 3% mark, 2.5 times higher than at the end. June 2021.
The yield curve is slowly recovering
HypoPlus data also shows that in recent years, the 10-year maturity is the one that mortgage takers most frequently choose in Switzerland. Yet the relative attractiveness of interest rates over the past six months does not quite go in this direction. In fact, the interest rates on four-, five- and six-year fixed-rate mortgages edged up in the first half of 2021, while eight-, nine- and ten-year mortgages rose 10% to 13%.
“We are slowly approaching a normalization of the yield curve,” notes F. Papp.
Rate cuts of around 40 basis points are not impossible
The indicative rates are average values. A Comparis analysis recently published found that mortgage institutions grant rate reductions of up to 25 basis points to applicants whose external financing ratio does not exceed 65%. With a minimal debt ratio and with the transfer of capital to the lending institution, it is even possible to obtain an additional reduction of 15 basis points. In the end, achieving a reduction in the indicative rate of around 40 basis points is not impossible, thus reducing a 10-year mortgage to only 0.8%.
Another obvious point: the most competitive rates for a 10-year mortgage have almost doubled since the start of the year. For F. Papp, this development is mainly due to the fact that certain mortgage establishments have temporarily suspended the best offers which they usually reserve for customers with excellent creditworthiness.
Increased competition around ordinary customers
Admittedly, the super rate of 0.8% is not accessible to everyone. Despite everything, rates around 1% for a ten-year mortgage remain realistic for ordinary customers, in other words with an external financing ratio of 80% and a debt ratio of 33%. HypoPlus data bears witness to this.
“Currently, competition reigns especially between mortgage institutions which target a large clientele with their offers”: observes F. Papp, who discovers the reason why the rates remain very attractive.
Pour plus d'informations : Frédéric Papp Expert Argent Téléphone: 044 360 53 91 E-mail: [email protected] comparis.ch
À propos de comparis.ch Avec plus de 80 millions de visites chaque année, comparis.ch compte parmi les sites Internet les plus consultés de Suisse. L’entreprise compare les tarifs et les prestations des caisses maladie, des assurances, des banques et des opérateurs de télécommunications. Elle présente aussi la plus grande offre en ligne de Suisse pour l’automobile et l’immobilier. Avec ses comparatifs détaillés et ses analyses approfondies, elle contribue à plus de transparence sur le marché. comparis.chrenforce ainsi l’expertise des consommatrices et des consommateurs à la prise de décision. Fondée en 1996 par l’économiste Richard Eisler, l’entreprise compte aujourd’hui plus de 200 collaborateurs à Zurich.
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