Since the Swedish Central Bank began to lower the interest rate, twice since May, the banks have followed suit to varying degrees and under some criticism for being slow.
Now, all have reported their average interest rates for August, something they must do on their websites according to the regulatory system and which is an important piece of the puzzle for borrowers who are to negotiate with the banks. The list prices, which the banks themselves prefer to market and then can negotiate down and call a "discount", should be wary of as a bank customer. They often lie a whole percentage point higher.
Danske Bank has the lowest average interest rate on a three-month loan in August, 4.25 percent. Next come SEB and the state-owned smaller player, SBAB, with 4.29 and 4.30 percent, respectively. Highest are Nordea and Swedbank, 4.45 and 4.41 percent, respectively.
Since the turn of the year, the banks have lowered their variable mortgage interest rates by approximately the same amount as the Swedish Central Bank has lowered the interest rate, 0.50 percentage points.
Even the fixed interest rates have fallen during the year, in line with the decreasing inflation and the generally lower interest rate level. On a two-year fixed-rate mortgage, Handelsbanken has the lowest average interest rate in August, at 3.14 percent. SEB comes in second, while Danske Bank is instead the most expensive with 3.60 percent.
Since the turn of the year, the two-year interest rate has fallen from four percent or just above.
The comparison includes Swedbank, Handelsbanken, SEB, Nordea, Danske Bank, and SBAB.
The average interest rate is the interest rate that the average customer pays for their mortgage loan during a specific period and binding period.
Each bank must state the average interest rate on its website, according to rules introduced by the Financial Supervisory Authority in 2015 in order to strengthen the customers' position vis-à-vis the banks.