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Infocenter › Engadine Valley
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Infocenter › Mortgages
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Swiss National Bank: Libor target range maintained at
2.25%–3.25%
 The
Swiss National Bank (SNB) is leaving the target range for
the three-month Libor unchanged at 2.25–3.25%. It intends
to hold the rate in the middle of the target range for the
time being.
The international environment will probably result in
a slowdown in economic activity in Switzerland. The National
Bank forecasts GDP growth between 1.5% and 2% for 2008.
Due to the sharp increase in energy prices, the inflation
forecast for the current year has been adjusted upwards.
The SNB is now forecasting an average rate of inflation
of 2% for 2008. A further rise in the oil price could result
in yet a further deterioration in this forecast. However,
on the assumption of an unchanged Libor of 2.75%, the SNB
expects inflation to ease toward the end of the year. Average
annual inflation is likely to amount to 1.4% in 2009 and
2010. This forecast is fraught with a great deal of uncertainty,
in particular with regard to the global economy, which shows
downside risks. »
more
Source: Swiss National Bank, March 13,
2008
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Credit Suisse: Mortage Interest Rate Forecasts
 The
Swiss economy is entering a phase of saturation. Against
the background of a cooling off in the global economy, we
are expecting a slowdown in economic growth, which will
have a dampening effect on inflation. It can therefore be
assumed that the Swiss National Bank will leave interest
rates unchanged. Hence, on a 12-month horizon, Flex rollover
mortgages can be expected to move sideways. We anticipate
that, in a year’s time, mediumterm mortgage interest rates
will be at slightly lower levels than today. Long-term mortgage
interest rates can be expected to return to a similar level
as today within 12 months. Between now and then, moderate
fluctuations are likely to occur as a result of increased
uncertainty.
Given the expected interest rate trend, Fix mortgages
remain attractive for mortgage borrowers and new homebuyers.
Flex rollover mortgages remain advisable for dynamic clients.
»
Credit Suisse: Mortage Interest Rate Forecasts
Source: Credit Suisse, May 19, 2008
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UBS mortgages in the current interest rate environment
 The
economic outlook for the Swiss economy looks still bright,
at least compared with other developed markets. The Swiss
National Bank (SNB) recently even upgraded its forecast
for real GDP growth this year to 2%. However, the appreciating
Swiss franc, and the ongoing fiscal and economic woes in
Eurozone countries have so far prevented the SNB from hiking
interest rates. In our view, the SNB should start to raise
interest rates from their crisis-mode level of 0,25% towards
the end of the year.
Fixed mortgages at between 4% and 5% look to be in line
with the long-term average. We recommend taking out UBS
Fixed-Rate Mortgages with longer maturities – that way you
can be sure of the currently low interest rates for years
to come. To limit the risk of a change in interest rates
before maturity, we recommend dividing the mortgage into
several tranches and thereby staggering the maturity dates.
»
UBS mortgages in the current interest rate environment
Source:
UBS AG,
July 30, 2010
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