Zurich (awp) – Borrowing to buy real estate has become more expensive. Mortgage rates more than doubled over one year for the month of January, however, they remain below the peak observed in October, according to statements from the online comparator Moneyland.
With central banks raising interest rates to try to stem inflation, mortgage rates rose again from mid-2022, after having been at historically low levels for years. in Swiss. Currently, the average indicative rate for a ten-year fixed rate mortgage is 2.76%, twice as high as a year ago. It remains despite everything below the peak of October 2022, during which the indicative rate had risen to 3.35%, recalls Moneyland.
The rise in mortgage rates is likely to continue in 2023, as observers expect the Swiss National Bank (SNB) to raise its key rate further, currently at 1%, to 1.5% d by June at the latest. This expected rise is already factored into the current level of mortgage rates, but the question is whether further increases will occur in the second half of the year or whether inflation will be sufficiently under control and the rate director maintained at 1.5%.