SBAB mortgage rate cuts on longer fixed terms, Digi Mart USA News: Sweden’s state-owned mortgage bank SBAB is lowering interest rates on home loans with longer fixed-rate periods, ranging from 2 to 10 years, by 0.15 to 0.20 percentage points.
The bank said in a press release that the cuts are due to the fact that longer-term market interest rates have fallen.
At the same time, SBAB is raising the rate on mortgages with a three-month fixed period, known as variable-rate mortgages, by 0.22 percentage points. The bank pointed to the Riksbank’s recent increase in its policy rate as the reason.
SBAB also said the variable savings rate for private customers is being raised.
Pension company Skandia’s bank is also raising its variable mortgage rate by 0.25 percentage points, and its savings account rate by the same amount.
Several other mortgage lenders have also raised variable mortgage rates in connection with the Riksbank’s rate increase last week.
