Today, the Riksbank’s first interest rate cut in eight years takes effect.
– We will start to see lower mortgage interest rates now, says Christina Sahlberg, savings economist at Compricer.
Last week, the Riksbank lowered the key interest rate by 0.25 percentage points. The big banks and Länsförsäkringar followed the reduction immediately, but not the niche banks.
– They have lowered interest rates during the spring, so they still have lower list rates than the big banks, says Christina Sahlström.
“Fat and satisfied”
The reason why the niche banks are lower is that they try to attract mortgage borrowers from the big banks, which Christina Sahlström describes as “fat and satisfied”.
– They have 70-75 percent of the mortgage portfolio, so they make a lot of money and already have us. And we’re not that mobile yet. It can be good to move your mortgage because then the big banks will have to compete too, she says.
Big differences
Is it a good location now?
– Yes, it actually is for now in the downturn when the banks make different forecasts, so there will be big differences in when the banks lower. So it’s a good negotiating position.
See the current list rates for both major and niche banks in the video.