Updated 2016-07-21 12:50. Published 2016-07-21 12:49
Swedbank mortgage margins climbed in the quarter. Despite pressure on deposit margins could strengthen Swedbank’s net interest income to 5.7 billion in the second quarter. Higher lending volumes in the Swedish mortgage loans contributed, but also increased mortgage margins. Margins increased by about 4-5 points in the quarter, says Swedbank Di.
Despite falling interest rates that make that banks can borrow cheaply, Swedbank has just moved its drop rate once a year – and then there was an increase of 3 basis points to 2.01 percent. The average interest rate for three-month mortgages have been relatively stable at around 1.51 to 1.53 percent this year.
How do you justify that customers have to pay higher mortgage margins in this low interest rate environment?
“the increased margins is still a consequence of the increased capital that came from the FSA. It takes time to work through a portfolio like ours, “says Brigitte Bonnesen.
House prices have fallen for two consecutive months. Economists Di talked to predict a slowdown in the fall. But Birgitte Bonnesen will not give up on anyone’s guess.
“It is incredibly difficult to say something about, we’ll have to wait and see.”
In June, crashed home the talks between the Alliance and the government.
“I think it is unfortunate. Sweden needs more housing and it is a political issue, “says Birgitte Bonnesen.
The politicians have failed to agree on a common housing policy that Sweden needs, and if this situation persists, it will in the long term inhibit growth in Sweden says Birgitte Bonnesen in the report.
A skuldkvotstak from FSA – is it needed?
“I do not think so. We already have it and we discuss the debt ratio with all our customers when they lend to housing. “
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