For a long time, the policy rate has been debated and a hot topic as the Riksbank has repeatedly chosen to lower it. Now the policy rate is located around the Riksbank’s two percent goal, the policy rate is 2.25 percent at present.
“The policy rate is the interest rate that the Riksbank’s Executive Board decides in order to achieve the inflation target. The policy rate’s function and purpose is to control the daily loan rate in the market and influence other interest rates in the economy so that the inflation target is achieved, ”writes the Swedish Riksbank at The website About the policy rate.
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“I’m not surprised”
In line with the development of the policy rate over time, the variable mortgage rate has also moved in a downward direction for almost a year, it describes Dagens Industri.
But despite the downward trend even for mortgages, the banks have not lowered the mortgage rate at the same rate as the Riksbank.
– I’m not surprised. We can see that many households feel uncertain when it comes to negotiating with the bank, says Finansinspektionen’s consumer protection economist Moa Langemark at Di.
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Photo: Fredrik Sandberg/TT
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Criticism of the interests of Swedish banks
When the Riksbank began the interest rate cuts on May 8, 2024, it was the first reduction in the policy rate in eight years. Subsequently, five reductions have been made by a total of 1.75 percentage points.
This corresponds to SEK 4,400 more in the wallet each month if you have a mortgage of SEK 3 million.
But the banks are nevertheless, Langemark says. The Swedish banks have made between seven and eight reductions in the variable interest rate during the same period. However, this corresponds to only 1.65 percentage points.
– We have seen increased mortgage margins in recent quarters, which means that the banks make a lot of money on mortgages even though we have had these reductions.
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So much has Swedish banks lowered the interest rate
The big question is thus: How much has the banks lowered the moving mortgage rate?
Dagens Industri lists the banks’ list of lists on January 1, 2024 compared to February 7, 2025 to be able to report the total interest rate reduction at each bank.
Source: Today’s industry
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