Other magazines The mortgage debtor should be prepared for a rise in interest rates

Turku Sanomat notes that the coronavirus pandemic, which has devastated the economy, has treated industries in completely different ways.

“The biggest victims can be found in restaurants, tourism, passenger transport, and the cultural and event industries.”

“You can also find success, at least in the grocery and online store. The industry has also survived the corona with less damage than expected. ”

“The global economy is recovering. Growth is fueled by the advancement of coronary vaccinations, deregulation, and massive stimulus measures. The pace in the world varies greatly. ”

“The recovery of the United States and China is good news for the entire global economy. – – In January-March, the US economy would shoot at an annual rate of 6.4% compared to the same period last year. Vaccinations and the lifting of interest rate restrictions have boosted private consumption, as have billions of dollars in stimulus programs. Even faster growth was achieved in China, where first-quarter growth was recorded at a record 18.3 percent. ”

“The eurozone economy sank into recession at the beginning of the year, for the second time during the koruna. – – The Finnish economy has suffered less from the interest rate than many other EU countries. There is even a growth spurt promised for this year. ”

“Households have savings and consumption needs, so private consumption is expected to start rising sharply as restrictions are lifted. The outlook for export companies is also very positive, driven by the United States and China. ”

“Rapid growth increases the risk of accelerating price increases. – – An increase in interest rates is not expected until inflation starts to exceed 2%. Inflation in Finland was 1.3 per cent in March. ”

“Debtors shouldn’t be lulled into permanent low interest rates. A one percentage point increase in interest rates would bring an additional cost of EUR 100,000 a year to a mortgage debtor of one hundred thousand euros. ”

Kauppalehti notes that by the end of March, the housing loan stock of Finnish households had already risen to EUR 103.6 billion.

“For example, a couple of years ago in Finland it was rumored that the amount of mortgage loans exceeded 100 billion euros.”

“Despite a lot of talk, the situation continues as before. Even the much-talked-about positive credit register still lies in the working group of the Ministry of Justice. ”

“Before that, indebtedness is the responsibility of every individual and lending banks as it has been until now. Nevertheless, the system has worked reasonably well. Overruns have been rare. ”

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