Swedish willingness to borrow crashes

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Published 18 November 2022 at 07.16

Economy. During the third quarter of 2022, households net borrowed SEK 33 billion, which was the lowest new borrowing in eight years, according to Statistics Norway.

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At the same time, households continued to save and financial savings were the highest ever measured for a third quarter.

Despite this, Swedes' net worth fell, mainly due to falling stock markets and a continued price decline in condominiums.

Household loans, which mainly consist of loans from banks and housing institutes, amounted to SEK 5,194 billion at the end of the quarter. Households' net borrowing consists of new loans minus amortizations and amounted to SEK 33 billion during the third quarter.

Swedes' debts are thus still increasing rapidly, even if the euphoria measured in the loan market during the years with minus round and negative interest rates has thus subsided a hint.

Sweden borrows

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