Tag: Reference rate

  • Research: Many homeowners are unprepared for rising housing costs

    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…

  • Apartment prices have returned to the pre-pandemic level, says OP’s economist

    Apartment prices have returned to the pre-pandemic level, says OP’s economist

    Among Finland’s largest cities, prices fell the most in Oulu, Helsinki and Vantaa, and the least in Tampere and Turku. “As expected, the fall in apartment prices continued in January. The decline has now wiped out the gains made during the coronavirus pandemic, and the decline is likely to continue in the coming months. tweeted…

  • Hypo: A new incentive trap makes it difficult to sell housing in Finland

    Hypo: A new incentive trap makes it difficult to sell housing in Finland

    “Swapping your home usually means swapping the collateral, and you can’t bring the fixed interest rate you previously negotiated to another bank. By postponing the decision to move, you can save hundreds per month,” the review reads. The trap already touches a million people, because the sharp rise in reference interest rates has made the…

  • Nordea: Housing prices in the Helsinki region are down 10% from last year’s peak

    Nordea: Housing prices in the Helsinki region are down 10% from last year’s peak

    In the rest of the country, house prices are expected to drop seven percent from the peak in 2022. Expectations in the capital region and other regions differ mainly because the rise in interest rates is expected to discourage home buyers, especially in residential areas. loans are higher than the national average, such as in…

  • Finnish housing prices fell by 2.5% in December, sales fell by 38%

    Finnish housing prices fell by 2.5% in December, sales fell by 38%

    Although the decline was especially strong for smaller apartments, the phenomenon did not only concern them. The decrease is due to rapidly rising energy prices, reference interest rates and the cost of living in general. Finland’s most popular mortgage reference rate, Euribor 12, has risen to 3.3 percent, after last year started almost half a…

  • Finnish borrowers will notice the ECB’s interest rate hike, experts predict

    Finnish borrowers will notice the ECB’s interest rate hike, experts predict

    Wind BirchNordea’s Chief Economist, stated To YLE on Thursday, that the change, although more confident than expected, will only lead to a moderate increase in the Euribor interest rate. Finland’s most common mortgage reference rate Euribor 12 already priced in the expectation that interest rates will be raised by one percentage point in July-September. “These…

  • The rise in house prices will slow down this year, Nordea and OP forecast

    The rise in house prices will slow down this year, Nordea and OP forecast

    Nordea, for its part, estimates that unit prices may even fall between 2022 and 2023. Housing prices have continued to rise in the first half of this year, albeit at a slower pace than last year. However, Nordea emphasized that the value of households’ own mortgages is higher than in the years before the coronary…

  • The Finnish housing market is falling

    The Finnish housing market is falling

    OP Financial Group and Nordea Bank forecast that the rise in house prices in Finland will slow down this year and next after the exceptional growth period of 2021. According to OP Bank’s recent forecast, changes in house prices will be between -0.5 and +0.5 percentage points next year due to a slowdown in interest…

  • YLE: Finnish consumers faced a “double” rise in prices and interest rates

    YLE: Finnish consumers faced a “double” rise in prices and interest rates

    Growth was one percentage point higher than forecast by the European Central Bank (ECB) in March. In Finland, inflation accelerated more than the euro area average by one point from the previous month. Timo HirvonenHandelsbanken’s chief economist told YLE on Tuesday that the ECB has understandably had to repeatedly revise its consumer price forecast due…

  • Explanation: Many Finns have not prepared for interest rate hikes on housing companies’ loans

    Explanation: Many Finns have not prepared for interest rate hikes on housing companies’ loans

    Nearly three-quarters (73%) of respondents with a personal mortgage said they were prepared for an increase in interest rates. Maiju HinnoNordea’s Senior Vice President, Housing, expressed concern about the results, especially due to the recent rise in interest rates. “A housing loan is comparable to a corporate loan, so its terms and flexibility are much…

  • The Bank of Finland calls for more measures to curb household indebtedness

    The Bank of Finland calls for more measures to curb household indebtedness

    “Households need to assess their debt service capacity to ensure that it can withstand rising interest rates, rising everyday costs and potential uncertainty in the labor market.” advised Marja NykänenDeputy Governor of the Bank of Finland. The European Central Bank is likely to raise its reference rate this autumn at the latest. However, market expectations…

  • Sweden has the highest inflation since 1991

    STOCKHOLM, April 14 (Xinhua) – Sweden is experiencing the highest inflation in decades, with a 12-month inflation of 6.1 percent in March, Statistics Sweden stated on Thursday. “The inflation rate rose sharply due to a general and broad price increase. Prices of food and non-alcoholic beverages rose, but it was mainly rising electricity and fuel…

  • Nordea: Rising housing costs are hitting homeowners the hardest

    Nordea: Rising housing costs are hitting homeowners the hardest

    Rising interest rates, accelerating inflation and the resulting rise in housing costs are straining the wallets of homeowners in particular, Nordea Bank says in its recent housing market review. According to the consumer price index, housing costs rose by 7.3 per cent year-on-year in February. "The price of electricity has risen by an average of…

  • Rehn: Monetary policy is ineffective against energy-induced inflation

    Rehn: Monetary policy is ineffective against energy-induced inflation

    He estimates that Europe is currently trying to avoid repeating the mistakes it made after the last financial crisis. The ECB was then reacting to rising energy prices by raising its interest rates, unlike the US Federal Reserve. “It simply came to our notice then. And it also affected the duration of the debt crisis,…

  • APN podcast: How Russia’s invasion of Ukraine will affect Finland

    APN podcast: How Russia’s invasion of Ukraine will affect Finland

    Russia’s invasion of Ukraine will change the world as we know it and bring Finland’s foreign policy to a standstill. For the first time in Yle’s poll, the majority supports Finland’s NATO application. "In my opinion, the fact that the war started in Ukraine or that the Russians were escalating the war in Ukraine was…

  • Housing prices in Finland rose sharply in 2021, says OP

    Housing prices in Finland rose sharply in 2021, says OP

    Although prices rose sharply, especially in large cities, the increases were exceptionally wide-ranging and affected both single-family homes and condominiums. OP Financial Group’s economists revealed in their market overview that they expect house prices to rise by 2.5 per cent from the previous year in 2022. However, the rise is expected to slow to 1.5…

  • Sweden must maintain zero percent interest until 2024

    STOCKHOLM, 10 February (Xinhua) – Sweden’s central bank, the Riksbank, decided on Thursday to keep the reference rate at zero percent, despite a recent sharp rise in inflation. The Riksbank expects to raise the repo rate to 0.2 per cent during the second half of 2024. This is slightly earlier than in the November assessment…

  • HS: Mortgage rates are expected to rise significantly in the coming years

    HS: Mortgage rates are expected to rise significantly in the coming years

    “The situation has been quite favorable in recent years from the perspective of mortgage borrowers. Euribor rates have been in the negative range, which has basically meant that the base rate has been zero in most loan agreements. Mortgage borrowers have practically only paid margins, “he explained to the newspaper. The interest rate on a…

  • Exchange rates for euros to other currencies

    FRANKFURT, 27 May (Xinhua) – The following are reference rates for the euro to other currencies of the European Central Bank on Thursday: One more euro: US $ 1.2198 Chinese yuan yuan 7.7808 Japanese yen 133.42 Danish kroner 7.4363 British Pound 0.86068 Swedish krona 10.1298 Swiss franc 1.0967 Norwegian krone 10.1953 Russian ruble 89.5360 Turkish…

  • Exchange rates for euros to other currencies

    FRANKFURT, 22 February (Xinhua) – The following are reference rates for the euro to other currencies at the European Central Bank on Monday: One more euro: US Dollars 1.2133 Chinese yuan renminbi 7.8447 Japanese yen 128.00 Danish kroner 7.4365 British Pound 0.86530 Swedish krona 10.0315 Swiss franc 1.0888 Norwegian krone 10.3185 Russian ruble 90.9800 Turkish…

  • Exchange rates for euros to other currencies

    FRANKFURT, JANUARY 21 (Xinhua) – The following are the reference rates for the euro to other currencies at the European Central Bank on Thursday: One more euro: US $ 1.2158 Chinese yuan yuan 7.8552 Japanese yen 125.72 Danish krone 7.4395 British Pound 0.88625 Swedish krona 10.0825 Swiss franc 1.0773 Norwegian krone 10.2513 Russian ruble 89.6369…

  • Exchange rates for euros to other currencies

    FRANKFURT, 19 November (Xinhua) – The following are the reference rates for the euro to other currencies of the European Central Bank on Thursday: One more euro: US $ 1.1832 Chinese yuan yuan 7.7927 Japanese yen 123.08 Danish kroner 7.4498 British Pound 0.89378 Swedish kronor 10.2060 Swiss franc 1.0797 Norwegian krone 10.6900 Russian ruble 90.2638…

  • The economy is recovering despite the second wave of Covid-19

    The economy is recovering despite the second wave of Covid-19

    The forecast remains the same as in August. “After a very turbulent first half of the year, the most important news is probably that the overall picture of the economy has remained unchanged since the summer. Finland’s economic forecasts have remained unchanged, and overall we have made only small changes to our forecasts, “says Reijo…

  • Exchange rates for euros to other currencies

    FRANKFURT, OCTOBER 19 (Xinhua) – The European Central Bank’s reference rates for other currencies on Monday are as follows: One more euro: US $ 1.1785 Japanese yen 124.11 Danish kroner 7.4410 British Pound 0.90588 Swedish kronor 10.3578 Swiss franc 1.0724 Norwegian krone 10.9470 Russian ruble 91,4401 Turkish lira 9.3057 Australian dollar 1.6575 Canadian dollar 1.5523…