Emma Persson, private economist Länsförsäkringar

Emma Persson, private economist Länsförsäkringar.

Photo: Press photo

Who is worst affected by the increase?

- The mortgage borrowers who have high mortgages and or small margins and are already struggling with the rising costs of other goods.

In addition, if you have no buffer saving, it becomes even more difficult to parry spending increases.

When can there be relief?

- Inflation can rise further before the end of the year and you can expect higher interest rates until it subsides.

But much is uncertain in the forecasts right now, even when it comes to, for example, electricity prices.

Households should expect that the higher cost situation will persist for a long time to come.

What can you do yourself?

1. Make sure you have the best terms and price for the goods and services you buy, including the mortgage.

Feel free to negotiate with several banks at the same time so that you get the best possible interest rate.

2. If you find it difficult to cope with paying your interest, amortization or other bills - contact the bank or company and say it like it is.

Preferably as soon as possible before the problems get worse.

3. Get a good picture of where expenses go in a typical month.

Is there something hiding there that isn't absolutely necessary to pay for or is there a category that stands out that you can do something about?

Annika Winsth, Chief Economist Nordea

Annika Winsth, Chief Economist Nordea.

Photo: Press photo

Who is worst affected by the increase?

- The households that have loans at variable 3-month interest rates are more or less immediately affected in full.

Households with small margins always have a harder time gaining ground for large throws, which will be felt this autumn.

When can there be relief? 

- If the Riksbank takes a break after this year's interest rate increases, the interest rate will probably remain around 2 percent for some years to come.

If the Riksbank instead continues to raise even after the turn of the year, the risk is that the Swedish economy will be pushed into a significantly more serious economic situation and that the interest rate will be lowered during 2024. It is a significantly worse scenario for everyone as it affects both the housing market and the labor market negatively.

What can you do yourself?

1

.

If you have variable loans, it is possible to bind them.

The problem is that the interest rate on tied loans has already gone up a lot and it is not entirely certain that it is a good deal to tie today.

However, for households that want to know their costs, it is attractive.

2. It is possible to get respite with amortization if you end up in a crisis situation, for example if you become unemployed or similar.

3. Pay off expensive consumer loans as soon as possible.

Américo Fernández, private economist SEB

Who is worst affected by the increase?

- Households with a combination of high leverage, a large variable percentage of their mortgage interest and, at the same time, small financial margins.

Often, many young and first-time buyers belong to this group.

When can there be relief?

- From an interest rate perspective, it may take some time, but on the other hand, there may be some relief in the form of high-cost protection for electricity bills, reduced fuel taxes and possibly temporarily abolished amortization requirements.

Only in mid-October will we know with certainty which wallet issues the government intends to proceed with.

What can you do yourself?

1. Stress test your personal finances and identify where you are most financially vulnerable.

The most important thing in these times is to get a handle on the situation in order to be able to treat your personal finances with the right medicine.

Here you can take help from the bank.

2. Before buying stops.

To get a restart in your personal finances, consider for one to two months only consuming what is really necessary and skipping lunches out, coffee in town and visits to the cinema.

3. For those households that bought a home more than five years ago, there may be reason to revalue the home in order to lower the amortization and thus replenish the coffers in these tough times.

However, it is important to see this as a temporary solution.