Fixed mortgage rates rose in August

Swedish mortgage rates fixed for longer periods rose in August, while variable rates edged down. Borrowers signing new agreements paid an average of 3.18 percent to fix for more than one year and up to five years, compared with 2.73 percent on variable loans.

Statistics Sweden reported that the one-to-five-year average increased from 3.15 percent in July. It was the first rise in that category since April, according to SCB economist Andrea Schöldtz.

Rates fixed for more than five years rose to 3.34 percent from 3.21 percent. The average variable rate fell slightly, from 2.74 percent to 2.73 percent.

Across all new mortgage agreements, the average rate was 2.78 percent. Households had SEK 4,349 billion in outstanding mortgage borrowing from monetary financial institutions, with 77 percent on variable rates.

The figures describe agreements made during August. Individual offers vary by lender and borrower; the averages do not predict which rate option will cost less over a loan’s lifetime.

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