After reaching a historical low in the third quarter of 2016, rates started rising in the fourth quarter. Rate increases hit mortgage tenors of five and ten years.
Compared to Q3, fixed mortgage rates on loans of ten years went up an average 0.2% to 1.62% according to price comparison website Comparis.ch. Five year fixed rate loans went up from 1.08% to 1.14%. While loans with a term of one year remained stable at around 1%.
Mortgage rates remain low, however the direction of rates may have changed. In Q3 2016, five year fixed rates fell 0.06% and ten year rates by 0.02%.
Rates have been inching up since the election of Donald Trump as the next US president. An interest rate rise by US Federal Reserve late last year has had a global knock on effect. According to 20 Minutes, a number of market commentators see rates stabilising. Comparis.ch says a strong rise is unlikely.