Mortgage rates in Switzerland increased during the third quarter of 2026, driven by higher interest rates in the capital markets. This rise in refinancing costs for banks led to higher mortgage costs for consumers. According to the online comparison portal Comparis, the indicative rate for a ten-year fixed-rate mortgage reached 2.07% at the end of September. This marks the highest rate for such mortgages since March 2025.
For shorter-term mortgages, the rates also saw an increase. The five-year fixed-rate mortgage rate stood at 1.9%, while the three-year fixed-rate mortgage rate was at 1.75%, up from 1.38% three months earlier.
Dirk Renkert, a financial expert, noted that while the Swiss National Bank (SNB) is unlikely to raise interest rates in the short term due to low inflation, the improving economic outlook, weakness of the Swiss franc, and rising energy prices could lead to a tightening of monetary policy. Renkert also highlighted that higher interest rates abroad are influencing the Swiss capital market, making fixed-rate mortgages more expensive despite the SNB's key interest rate remaining at 0%.