Mortgages rates are freezing

Banks are stopping any further rises in mortgage rates, freezing interest rates at a date reportedly set for March 31.

This means that any increases made after last Friday or due to be made from now on in the interest rates that form the basis of reference for housing loans will not be applied.

The freeze applies to current mortgage loans with a floating interest rate and which have a reference base of either the 1-month Euribor or the 3-month Euribor or the ECB's benchmark interest rate or the Libor, based on which the installment of the mortgage loans in Swiss currency is calculated.

The aim is to stabilize the installments of the loans at the current levels without being further burdened by the new interest rate hikes expected to take place in the near future.

If the reference date is March 31, the 3-month Euribor will stabilize around 3.030%, while...