The Financial Supervisory Authority is now publishing statistics based on the eight largest Swedish banks' mortgage rates, which show that the average rate on variable-rate mortgages was 3.1 in April 2025.
The difference between the average of the bank with the highest rate was 0.47 percentage points. In monetary terms, this means over 9,000 kronor in interest costs per year for a loan.
We mortgage borrowers are not equipped to have the conversation required with the bank to get a good mortgage rate. Much power lies with the banks today, says Moa Langemark.
No Transparent Model
The average rate differs not only between banks but also between individual mortgage borrowers within the same bank.
This suggests that this is a fairly opaque model for bank customers. It is difficult to understand why one gets a certain mortgage rate. I can imagine that many customers may settle for the offer they receive from their bank, without perhaps going ahead and negotiating with more and asking questions.
Few Compare Rates
Only 3 out of 10 regularly compare mortgage rates, which gives more room for banks to be less flexible in pricing, according to Langemark. Many customers think it is difficult to negotiate and feel at a disadvantage when applying for a loan, but Langemark wants to emphasize that banks are earning historically high levels on mortgages.
Banks can be clearer with their customers about why they decide to give a certain rate and what is required to get a better one, she says.
The Financial Supervisory Authority's decision to publish the statistics is made to give consumers better tools for negotiations. Moa Langemark also recommends comparing the average rate on the website Konsumenternas.
It should be easier to see what one can expect for a mortgage rate, what the average is, and use that figure to ask the bank: "Why can't I get the average?", she says.
