State-owned SBAB is lowering interest rates again. Among other things, the three-month interest rate is being lowered by 0.15 percentage points to a list rate of 4.62 percent.
I'm sure more banks will act now, says Christina Sahlberg, savings economist at comparison site Compricer.
The fixed mortgage interest rates from one to ten years' binding period are also being lowered by between 0.10 and 0.25 percentage points.
And today's message suggests that they expect an interest rate cut from the Swedish Central Bank in August, according to Frida Bratt, savings economist at Nordnet.
My picture is that SBAB has a tradition of following the interest rate situation quite closely and maybe even taking the lead, she says.
"Seen broad declines"
Christina Sahlberg, savings economist at comparison site Compricer, is on the same track.
SBAB is always very skilled at adjusting their interest rate based on market conditions. As soon as it becomes cheaper for them to borrow money, they lower it, and as soon as it becomes more expensive, they raise it.
For example, the interest rate for loans with a one-year binding period is being lowered by 0.20 percentage points to 4.32 percent. In addition to the list rate, the banks also publish an average rate, i.e. the average interest rate that the bank's customers have received. This is traditionally always below the list rate.
We have seen broad declines on both shorter and longer binding periods. And that affects our costs, so we think we should pass it on to our customers, says Mikael Inglander, CEO of SBAB, to TT.
More cuts
SBAB's cut can lead to more banks lowering their interest rates, say both Christina Sahlberg and Frida Bratt.
I'm sure more banks will act now, says Christina Sahlberg.
Most banks act around the Swedish Central Bank's message. But this can probably also affect other banks to do something with their variable interest rate in the near future.
According to Mikael Inglander, it is likely that SBAB will cut more times this year.
If the Swedish Central Bank holds what it has communicated, i.e. lowers the interest rate further under 2024, then the interest rates will also be lowered from our side for our customers.
SBAB has lowered the variable mortgage interest rate five times this year, with a total of 0.50 percentage points.
