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Major Banks Lower Floating Mortgage Rates

Several banks are now anticipating the Swedish Central Bank's message next week and are lowering their interest rates.

» Updated: 08 October 2024, 02:16

» Published: 20 September 2024

Major Banks Lower Floating Mortgage Rates
Photo: Fredrik Sandberg/ TT

Handelsbanken, one of the largest mortgage banks in Sweden, is lowering its so-called list rate on mortgages with a three-month binding period by 0.20 percentage points, the bank writes in a press release.

Handelsbanken's average three-month rate in August this year was 4.38 percent.

Nordea is also lowering its floating three-month rate by 0.20 percentage points from Monday, which will put the list rate at 5.29 percent.

Floating mortgages are by far the most common binding period for mortgages on the Swedish mortgage market.

Skandia is adjusting down mortgage rates by 0.15-0.25 percentage points. This does not apply to the floating rate, but only to rates on mortgages with binding periods of 1-5 years.

The reduction comes ahead of next week's interest rate decision from the Swedish Central Bank, which is then expected to lower its key rate by at least 0.25 percentage points.

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By TTThis article has been altered and translated by Sweden Herald

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