Swedish banks raise fixed mortgage rates: Swedbank's two-year at 3.89%
The rise is 0.25 points and can add SEK 7,500 a year to a SEK 3,000,000 loan. Variable rates stay put. Five other banks raised fixed rates first.
Swedbank is raising its fixed mortgage rates today, 18 September 2026. The list rate ("listränta") for a two-year term goes up 0.25 percentage points to 3.89%. The five-year and ten-year rates each rise 0.20 points. The three-month rate stays unchanged.
Several banks moved first
Swedbank is not alone. Over the past week Nordea, Danske Bank, SBAB, Skandia and Länsförsäkringar have raised their fixed rates for terms of one year and longer. All of them left the variable three-month rate alone.
Why are fixed rates rising?
Fixed rates ("bunden ränta") follow bond market rates. These have risen clearly in recent weeks, as oil and gas prices climbed. Expectations of rate hikes have grown in several countries. The European Central Bank raised its rates by 0.25 percentage points on 10 September 2026.
The Riksbank's policy rate ("styrränta") is still 1.75%. In August 2026 the Riksbank said the probability of a hike later this year remained. Variable rates usually follow the policy rate, so they have not moved. Fixed rates reflect what the market expects and have already gone up.
What it costs
Most borrowers do not pay the list rate. Bolån Radar's data shows Swedbank's average two-year rate at 3.16% in August 2026. Six large banks' two-year averages ranged from 3.09% to 3.39%.
If the rate you are offered rises as much as the list rate, a two-year fixed SEK 3,000,000 loan costs SEK 7,500 more a year. After the 30% interest deduction ("ränteavdrag") that is SEK 5,250.
The rise applies to new loans and loans being renewed. If you already have a fixed loan, your rate does not change until the fixed period ends. If you renew this autumn, compare the banks' current mortgage rates and negotiate.
Next decision
The Riksbank announces its next rate decision next Thursday, 24 September 2026.
Sources
- Placera (Nyhetsbyrån Direkt): Swedbank raises fixed mortgage rates, 18 September 2026 (Swedish)
- Riksbank: Monetary policy decision, August 2026 (Swedish)
- Bolån Radar: historic average rates
This content is general information, not financial or legal advice. Bolån Radar collects data from banks and authorities and cannot guarantee that it is complete or free of errors. Talk to your bank or an adviser before you decide.