Variable mortgage rates dip to 2.74% as fixed loans stay higher

Sweden’s average variable mortgage rate for new agreements edged down to 2.74% in July, while every fixed-rate band in SCB’s table remained higher.

The official figures show an average of 2.78% across all new mortgage agreements, down from 2.80% in June. Fixed periods from three months to one year averaged 2.79%, one to five years 3.15%, and more than five years 3.21%. All three fixed bands fell during the month but remained above the variable rate.

A three-month rate is normally described as variable, according to Konsumenternas. Its comparison guide says households should compare an offer with banks’ average rates rather than advertised list rates. Fixing can make monthly costs more predictable, but ending the loan early can trigger an interest-difference charge.

Finansinspektionen says differences between banks can be worth thousands of kronor and also points borrowers to average rates as the better benchmark. SCB says 77% of outstanding housing loans carried variable rates in July. Those loans totalled SEK 4,334 billion, making the published averages a practical check when a household reviews or renegotiates its offer.

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