Everything only half as wild
Was that already with the mortgage rate panic?
On June 16, the National Bank increased its key interest rates. To the horror of everyone who dreams of owning their own home. Now the situation seems to be easing again. Why?
Published: 9:33 p.m
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Updated: 9:46 p.m
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Many homeowners panicked! Mortgage interest rates became significantly more expensive after the Swiss National Bank raised the key interest rate on June 16. Can you sleep peacefully again soon? Isn’t everything so bad? Because: Mortgage interest rates are already falling again, as the “SonntagsZeitung” writes.
This is shown by the interest rate index for residential real estate, which the comparison portal Hypotheke.ch calculated on the basis of 250,000 mortgages of all types. He comes to the conclusion that the peak was reached on June 22nd. Specifically: Then a mortgage was offered at an average interest rate of 2.58 percent.
“Inflation Panic”
Since then, however, it has fallen again to an average of 2.29 percent. “You don’t often see such a striking upward and downward movement in a short period of time,” says Florian Schubiger, co-founder of Hypotheke.ch, to the “SonntagsZeitung”. His explanation: “After the National Bank decision, panic broke out because of inflation. Now it has been noticed that this will probably not rise to the sky.” The expert speaks of a “classic overreaction that is now leveling off”.
More on mortgages
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The crucial question that worries everyone: What’s next? Are property owners threatened with sleepless nights again? All clear! Mortgage lenders appeared to expect that future interest costs would not be as high as they feared on June 16th.
Saron mortgages have become more expensive
However, not for all mortgages. New Saron mortgages, which are linked directly to the key interest rate of the National Bank, have become more expensive with certain providers, not cheaper. According to the report, several banks have increased their interest rates, including Credit Suisse, Graubündner Kantonalbank and Glarner Kantonalbank. (pbe)
