FI: Mortgage borrowers are increasingly pressured

The Financial Supervisory Authority, with the new Director General Daniel Barr, presents a mortgage report. Archive image. Photo: Marko Säävälä/TT

Mortgage borrowers are pressured by rising interest rates, according to the Financial Supervisory Authority (FI). But the vast majority of new mortgage borrowers still have good margins, writes FI in a press release.

“For many households, interest has become an increasingly large expense, and for new mortgage borrowers, an average of 12 percent of disposable income now goes to interest payments,” writes FI.

“It is almost a threefold increase from 2021 and it is the highest percentage measured in the Financial Supervisory Authority’s surveys,” adds FI.

According to FI’s forecasts, the expenditure may continue to grow to nearly 16 percent of disposable income at the end of 2023.

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FI: Mortgage borrowers are increasingly pressured