Business · Economy · 1 hr ago
Swiss 10-year fixed mortgage rates reach highest level since March 2025
Benchmark rates for 10-year fixed mortgages in Switzerland rose to 2.07% by September 30, their highest level since March 2025.
The increase comes even though the Swiss National Bank has kept its policy rate at zero for more than a year.
Higher interest rates abroad have pushed up borrowing costs in Switzerland’s capital markets, which influences mortgage rates.
Five-year and three-year fixed mortgage benchmarks also rose over the previous three months, while rates for SARON mortgages were unchanged.
Higher fixed rates mean borrowers may pay more for predictable long-term mortgage payments, while some choose SARON loans, whose rates can change.
About 43% of borrowers using Comparis’s mortgage service chose fixed mortgages lasting 10 years or more.
Many experts expect the Swiss National Bank to raise its policy rate in December, which could push mortgage rates higher.
Swiss reference rates for 10-year fixed mortgages reached 2.07% on 30 September, their highest level since March 2025.
The increase came despite the Swiss National Bank keeping its policy rate at 0%.
Comparis said higher interest rates abroad were pushing up borrowing costs in Switzerland.
Reference rates for five-year and three-year fixed mortgages also rose over the previous three months.
About 43% of borrowers using Comparis’s mortgage service chose fixed mortgages with terms of 10 years or longer.
- Who
- Swiss mortgage borrowers and financial institutions are affected; Comparis reported the rate data.
- What
- The reference rate for 10-year fixed mortgages rose to 2.07%, its highest level since March 2025.
- When
- The rate was recorded on 30 September 2026.
- Where
- Switzerland.
- Why
- Rising interest rates abroad pushed up the Swiss capital market, according to Comparis.
This story does not have two clearly opposing sides.
The yield on 10-year Swiss government bonds stood at 0.31%.
The yield had risen to 0.59%, and the reference rate for 10-year fixed mortgages was 2.07%.
Many experts expect the Swiss National Bank to raise interest rates.
- 10-year fixed mortgage reference rate
- 2.07% on 30 September
- Highest level since
- March 2025
- Swiss National Bank policy rate
- 0%
- 5-year fixed mortgage reference rate
- 1.90%, up 0.38 percentage points since June
- 10-year government bond yield
- 0.59% at end of September, up from 0.31% at end of June
- Long-term fixed mortgage share
- About 43% of Comparis mortgage-service contracts at end of September
What people are saying
Das höhere Zinsniveau im Ausland wirkt zunehmend auch auf den Schweizer Kapitalmarkt. Deshalb werden Festhypotheken teurer, obwohl die SNB ihren Leitzins bei 0 Prozent belässt. Die Richtsätze für zehnjährige Festhypotheken notieren mit über 2 Prozent so hoch wie seit März 2025 nicht mehr.
Das aktuelle Zinsumfeld zeigt sich besonders bei den kurz- und langfristigen Laufzeiten: Während ein Teil der Hypothekennehmenden verstärkt auf kostengünstige Saron-Hypotheken setzt, bevorzugen andere die höhere Planungssicherheit langlaufender Festhypotheken
Sources
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