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Banks' margin on new mortgages declined slightly in the third quarter to 1.55%, up from 1.7% a year ago, the Financial Market Supervisory Authority said in its latest quarterly report.
An explanation for the decline in the margin could be that bank customers now have slightly lower interest rates on their mortgages, which increased competition in the debt market may have contributed, according to the savings economist. of Christina Söderberg at Compricer.
At the same time, the level remains very high and generates high profits for banks.
"They would still earn a lot of money with a mortgage margin of less than 1%," explains Söderberg.
A tool for the customer
The gross margin on mortgages reported by FI is an average of the actual lending rates applied by the four major banks after deducting borrowing costs.
– This is a tool to bring when you are chatting with your bank. We want to encourage customers to be active at the stage of trading around their interests, "said Magnus Karlsson, deputy director of Finansinspektionen.
Expert Advice: Ask your bank
Christina Söderberg advises everyone not to show too much trouble to their bank when it comes to taking out a mortgage – and urges them all to switch banks if it leads to lower interest rates.
"In most cases, you can keep your salary and retirement savings account in your current bank, even if you choose another bank for your mortgage," says Söderberg.
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