Advertisement

Rate rises to hit homeowners

Share this article

17:49 CEST+02:00
Many Swedes with short-term fixed-rate mortgages will face higher bills from now on, after state-owned mortgage lender SBAB and Nordic bank Nordea both raised rates. But mortgages fixed for three years or more will become cheaper, SBAB said.

After the changes, SBAB's three-month fixed rate mortgages will attract a standard interest rate of 2.25 percent, a rise of 0.07 points. Two-year fixed-rate deals are unchanged at 2.9 percent.

Interest rates on five-year fixed-rate mortgages at SBAB are being reduced by 0.07 points to 3.95 percent. Ten-year fixed-rate deals are being reduced by 0.16 points to 4.68 percent.

The changes by SBAB also affect customers of its partners - ICA Banken, Ikano Bank, Nordnet Bank, Salus Ansvar and Bank 2.

Nordea announced on Wednesday that it would also raise rates on short term fixed rates, effective from Thursday. Their 3-month rate would rise by 0.03 percentage points, while their one-year fixed rate would rise by 0.05 percentage points. The new three-month rate will therefore be 2.18, while the new one-year rate will be 2.30, the bank said in a statement.

Nordea's 5-year fixed rate mortgage will fall by 0.1 percentage points to 3.89 percent. The one-year fixed-rate will fall by 0.1 points to 4.59 percent. Rates on mortgages fixed for between two and four years are unchanged.

Share this article

Advertisement
Advertisement
Advertisement
3,799 Jobs
Click here to start your job search
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement