Swedbank has raised its mortgage list rates by 0.25 percentage points, matching the Riksbank's policy rate increase earlier this week, Dagens Nyheter reports. The bank confirmed the move in an email to TT, according to the newspaper.
The change puts the list price for a floating-rate mortgage at 4.14 percent. Swedbank is also lifting rates on its savings accounts by the same margin, with the new savings rates taking effect on 16 November.
The Riksbank announced on Wednesday that it was raising its policy rate by 0.25 percentage points, to 2 percent, according to the central bank's own statement on the decision.
Swedbank's adjustment follows the pattern set by the central bank's move, with the lender passing the full increase through to its published mortgage rates. The savings account changes apply from mid-November, giving customers just over a week before the new terms begin.
The rate decision has drawn attention beyond mortgage holders. Aftonbladet reported on concerns that sharp interest rate increases could bring the economy to a sudden halt, while Dagens Nyheter has also examined how much more expensive mortgages become after the hike.
What to watch next: whether other major Swedish banks follow Swedbank in raising their list rates, and how the higher borrowing costs feed through to household budgets in the coming months.
