The average rate of increase for the last ten years is 1.4 percent.
At the same time, household wealth continues to decline. At the end of the quarter, the net worth amounted to SEK 21,351 billion, a drop of 1.4 percent compared to the previous quarter.
“After almost a decade of extremely low interest rates, households are now being pressured by a clear shift in the trend as key interest rates are raised sharply and mortgage rates have doubled compared to the start of the year. Taken together, eroded wallets and higher interest costs are pushing the rate of household debt growth down to the lowest level measured in the Savings Barometer’s nearly 30- years of history,” says SEB’s private economist Américo Fernández in a press release.