Published on 06.01.2023
Estimated reading time: 1 minute
Share this article on:
monetary policy” Mortgage rates in Switzerland continued to rise in December 2022, driven by the tightening of monetary policy implemented at the end of last year by the Swiss National Bank (SNB). All credit conditions were affected by this increase.
The indicative rate for a 5-year fixed-rate mortgage reached 2.79% at the end of December, according to the Comparis.ch portal. At the beginning of December it was still at 2.4%. The indicative rates are calculated on the basis of the average rates published by approximately 50 mortgage lenders prior to negotiation.
The evolution is similar for the other durations. In ten years the rate has risen to 3.03% (+0.4 percentage points) and in 15 years to 3.2% (+0.34 points), the online comparator reported yesterday.
“The increase in interest rates was expected. The SNB is no longer taking shock measures to catch up on inflation – now it’s time to make the final adjustments,” said Leo Hug, money expert at Comparis.ch.
According to the latter, the interest rate market will calm down. “Despite everything, long-term rates remain very fluctuating,” he warned. ats
