“If consumers were to a greater extent prepared to switch banks, it would likely contribute to the average mortgage interest rates falling,” writes FI.
At the end of the quarter, the gross margin was 1.07 percent, compared to 1.35 percent at the end of the first quarter. The gross margin is the difference between the banks’ lending rate for mortgages and what it costs them to finance the loans.
Hear Henrik Braconier, Chief Financial Officer for FI, about the interest rate market in the clip above.