Tag: Interest rate
YLE: November was the best month of the year for many real estate agencies
Topi SalmiThe executive director of the apartment center revealed that market activity picked up especially in growth centers such as Espoo, Helsinki, Tampere and Vantaa. One of the factors that contributed to the acceleration of sales is that first-time home buyers are not exempt from the transfer tax from the beginning of next year. Juho…
Sales in the Finnish housing market have picked up, driven by first-time homes
This increase is largely due to first-time home buyers, who have been particularly active in light of the government's proposed changes to the transfer tax. The total number of apartment and real estate transactions carried out by OP Kodi was 806 in November, which was the first month of sales volume growth of the year.…
Statistics: The fall in housing prices continued in Finland in October
Compared to the previous month, prices fell by 0.8 percent throughout the country. Prices fell the most in Oulu, where old apartments lost their value by an average of 11 percent in the 12 months before October 2023. In Turku, prices fell by 8.7 percent and in the capital region by 7.8 percent. Tampere proved…
Finnish small and medium-sized companies are facing an economic recession, says the entrepreneur survey
According to the survey, only 52 percent of SMEs considered their financial situation to be very good or fairly good, which is a decrease from 58 percent in August. Particularly tough industries are retail, where every fifth company reports its financial situation as either quite bad or very bad. The industrial sector sees 17% and…
Interest on home loans abolished for Grindavík residents
Due to the natural disaster and the uncertain situation in Grindavík, Arion banks, Íslandsbanki and Landsbankinn, in cooperation with the Association of Financial Institutions (SFF), have reached an agreement to waive interest rates and price reductions on home loans for Grindavík residents for three months. In the announcement published by SFF we read that banks…
Right now: Riksbank Governor Erik Thedéen on the interest rate announcement
The Riksbank leaves the interest rate unchanged at 4.00 percent. It is the first time since 2022 and after 8 straight increases. Riksbank Governor Erik Thedéen visits Studio Ett to talk about Thursday’s interest rate announcement. Presenter in the studio is Marcus Nilsson and Kajsa Boglind.
Listen to Ekot quarter to five
Latest news about the Riksbank’s interest rate announcement, the situation in Gaza, the new infection in China and the election in the Netherlands. Program leader is Angela Wiese Edeler and producer is Helena Sjöholm.
This will be the Riksbank’s new interest rate announcement
On Thursday morning, the Riksbank will announce the new interest rate announcement. Ekot broadcasts directly with Ekot’s economic commentator Kristian Åström and Frida Bratt, savings economist.
Raise, lower or pause – hear the economists ahead of today’s interest rate announcement
On Thursday, the Riksbank will issue a new interest rate statement. In P1 Morgon: Hear the economic experts on why the interest rate should be raised, lowered or paused. Participants: Mattias Persson, chief economist at Swedbank, Alexandra Stråberg, chief economist at Länsförsäkringar and Laura Hartman, independent economist.
Basic interest rates remain unchanged
The Monetary Policy Committee of the Central Bank of Iceland (Seðlabanki) has decided to keep the bank’s interest rates unchanged. The bank’s main interest rate, i.e. the seven-day fixed deposit rate, will therefore remain at 9.25%. Inflation in October decreased slightly on a monthly basis and amounted to 7.9%. Core inflation also weakened. There are…
Employment fell, unemployment increased in Finland in October
77.4 percent of the country’s 20–64-year-olds were employed, which is 1.5 percentage points less than the previous year. The number of unemployed increased by 28,000 to approximately 190,000 between October 2022 and October 2023. As the economic recession complicates the employment situation until interest rates start to fall, the worst for the employment situation is…
Transport Agency warns drone buyers ahead of Black Friday
Looking for a discount drone? New EU rules will affect where you can fly after 1 January. Plus, a historic increase in interest rates on F1 loans hits today, Denmark opens strategic new embassies in Balkan ‘frontline states’ and P!NK comes to Copenhagen. The full version of this article is only available to subscribers. Already…
The yuan surpasses the euro and is the second most used currency in world trade
This move takes advantage of China’s low interest rates, as opposed to the rising cost of borrowing from Western banks. An explosion of borrowing by Chinese banks has pushed the yuan above the euro, which is in line with Beijing’s efforts to internationalize the yuan. The yuan’s share in international payments rose significantly and was…
Research: Many homeowners are unprepared for rising housing costs
According to the research, people over 60 are most likely to have serious financial buffers to protect themselves from financial challenges, and 18-29-year-olds are the least likely. Anders GyllingRetta Isännöintin’s operational manager, told Helsingin Sanomat reported on Friday that there can be two reasons for young people’s limited buffers: they haven’t had time to build…
In the Finnish technology industry, the number of new orders falls sharply in the third quarter
According to the report, the value of new orders fell by 24 percent in July-September from the previous quarter and by 30 percent from a year ago. As the value of new orders has fallen steadily since the beginning of the year, order backlogs in the technology industry weakened by four percent from the end…
Espoo’s 2024 budget focuses on education amid financial challenges
Economic challenges and a strategic response Faced with global conflicts, rising inflation and rising interest rates, Espoo’s households and companies are moving in a tightening economic life. The city’s corporate income tax is dwindling, and the spike in bankruptcies in the construction industry means deeper financial distress. In addition, the unemployment rate is rising. These…
The OP admits that the sales pitch for the interest rate cap was harsh "error" as mortgage holders struggle with mounting bills
According to the cooperative bank, “there was an error in customer communication” because the ceiling did not cover annuity mortgages, which make up about 80 percent of mortgages.
The reality of China’s economy
In October, people in China celebrated their “Super Golden Week”, which was a combination of the Mid-Autumn Festival and the National Day holidays. Statistics show that China’s domestic tourism experienced a “full bloom” during the week. 826 million domestic trips were made, an increase of 71.3 percent from last year and 4.1 percent from 2019.…
Finnish youth are getting into debt amid rising costs – many are worried about their ability to repay
This trend coincides with broader observations: in 2022, the average student loan debt of OP’s customers was around 10,000 euros per student, which reflects Kela’s figures. This is a significant leap from 2010, when, according to Kela’s data, the average student loan amount was more than 5,000 euros. “Although student debt is basically considered a…
Global inflation is expected to cool down, reveals a study by the ifo institute
Several major economies echo this trend. In the UK, inflation is forecast to peak at 6.5% this year. Meanwhile, Ireland predicts an interest rate of 5.6 percent, the United States 4.2 percent and Canada 4.1 percent. Niklas Potrafkeifo’s researcher, states: “Although current inflation expectations are still high, they have significantly receded from last quarter’s figures.”…
Nokia is laying off up to 14,000 jobs worldwide, of which almost 450 are in Finland
The company’s profitability has weakened primarily due to the market situation: due to the rise in interest rates, customers’ financing costs have been increased, network operators have postponed equipment upgrade investments. The drop in demand has caused the company to look for cost savings primarily in mobile networks, cloud and online services, and business operations.…
Finnish banks announced that they had grown to profit
The interest rate hikes have been good in terms of the results of the financial sector.
Finland’s pension system ranked sixth worldwide in terms of reliability and transparency
This year, 47 countries participated in the comparison. Finland’s decline was due to Australia’s rise, which collected additional points for the financial sustainability of the pension system. “Finland’s score decreased slightly in the traditionally strong area of administrative reliability, but many other countries experienced similar decreases. This is due to the updates of Mercer’s indicators,”…
Ministry of Finance: Finland’s economy will remain in recession until next year
“We don’t expect any particular structural frictions or bottlenecks that would prolong the recession. We see this as a phase related to normal business cycles, says Mikko Spolander, Director General of the Ministry of Finance. stated at a press conference in Helsinki on Monday. Exports, investments and private consumption are predicted to grow again next…
Hypo: Finnish localities differ more and more in terms of real estate risks and prospects
Espoo’s ranking was particularly boosted by its positive income and demographic development, as it reached the 300,000 population mark in 2022 and was on track to reach the 350,000 mark in 2040. According to Hypo, the city seems to be the second most popular destination for internal migrants after Tampere. According to Hypo, its population…
The key interest rates of the Central Bank of Iceland remain unchanged
The monetary policy committee of the Central Bank of Iceland has decided to keep the bank’s interest rates unchanged. The bank’s main interest rate, i.e. the seven-day fixed deposit rate, will therefore remain at 9.25%. The Central Bank announced its decision at yesterday’s press conference. So far, key interest rates have been raised 14 times…
According to the Terve Suomi survey, one in five adults risks their basic needs due to financial constraints
The survey found that 18 percent of men and 23 percent of women reported having to make sacrifices in these important areas due to financial constraints. This corresponds to approximately 900,000 adults in Finland. Financial difficulties were particularly common among young adults. A significant 25 percent of the working-age population, aged 20-64, admitted they had…
Finland’s largest landlord raises rents by an average of 12%
The city-owned Helsinki city housing company Heka says that the rents of its more than 1,600 apartments are rising due to higher operating costs and interest rates.
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Since 2014, experts have worked to collect the best loan offers from safe banks and loan providers. Today we can confirm that you can now find a complete overview of all safe loan providers for Norwegians. This news must of course share, and if you need loans on the day you can choose between several…