Due to the high and stubborn inflation, the Swiss National Bank has raised the key interest rates in three steps from -0.75 to 1 percent. There is currently a high probability that it will raise key rates again in 2023. The forecasts of the various banks and financial institutions anticipate further increases of +0.5 to + 1 percent, which could take the key interest rate up to 2 percent. It should be noted that interest rates at the short end have risen more sharply than interest rates on fixed-rate mortgages and that the spread between SARON and fixed-rate mortgage rates has therefore narrowed. The question now arises again as to how to proceed when taking out a new mortgage or renewing one. What are the options?