The reference interest rates for ten-year fixed-rate mortgages (called indicative rates) published by more than 30 credit institutions currently stand at 1.55% (as of December 6).
Indicative rates for ten-year fixed mortgages are at a significantly lower level than at the start of the year, driven by successive rate cuts by the Swiss National Bank (SNB).
The reference interest rates for ten-year fixed-rate mortgages (called indicative rates) published by more than 30 credit institutions currently stand at 1.55% (as of December 6), Comparis said in a press release on Tuesday. This is 0.71 percentage points less than at the start of the year, when they stood at 2.26%.
They follow the downward trajectory of interest rates led by the SNB since March. “The current indicative rates already take into account at least two other reductions” by the issuing institute, notes Dirk Renkert, Money specialist at the online comparator. The monetary policy decision planned for this week will therefore have little impact.
Until the end of June 2025, the indicative rates for 10-year fixed-rate mortgages should vary in a range between 1.45 and 1.65%. As for the indicative rates for five-year fixed-rate mortgages, the expert expects them to range between 1.30 and 1.45%.
Calculated from the average interest rate on mortgages held by the country’s banks, the reference mortgage rate could fall in 2025, giving the tenants concerned the right to rent reductions.
Bank refinancing costs (swaps) have fallen even further. Down 0.83%, the 10-year swap still stands at just 0.33% (as of December 6), whereas it reached 1.16% at the start of the year. The yield on 10-year federal bonds, for its part, was almost divided by three, going from 0.68% at the start of the year to 0.24%.
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