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RIKSBANK: Thedeen Pushes Back On Mortgage Policy Proposals

RIKSBANK
Central Bank NewsSwedenCEEMEA RiksbankBulletMarketsFixed Income BulletsForeign Exchange Bullets

Riksbank Governor Thedeen pushed back on the proposal for more relaxed macroprudential policies in the housing market, stating that “just making it easier to borrow will not solve long-term housing market challenges”.

  • The Inquiry, which was presented in November 2024, proposed a relaxation of amortisation requirements for households, an increase in the mortgage cap to 90% (from 85% currently) and a new debt-to-income cap of 550%.
  • Thedeen believes “households are more resilient with amortisation requirements and mortgage caps than they would have been without them, and relaxing credit rules too much risks reversing this trend”.
  • He notes that “there is a risk that the Inquiry's proposals could push up housing prices, increase household debt and make households more vulnerable to shocks.”
  • Pushback against the Inquiry’s proposals was also seen in the Riksbank’s H2 ‘24 Financial Stability Report, and a recent speech by Deputy Governor Bunge.
  • The Riksbank will provide a full assessment of the matter after the Government submits a proposal for consultation regarding the Inquiry’s proposals (expected in the Spring).
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Riksbank Governor Thedeen pushed back on the proposal for more relaxed macroprudential policies in the housing market, stating that “just making it easier to borrow will not solve long-term housing market challenges”.

  • The Inquiry, which was presented in November 2024, proposed a relaxation of amortisation requirements for households, an increase in the mortgage cap to 90% (from 85% currently) and a new debt-to-income cap of 550%.
  • Thedeen believes “households are more resilient with amortisation requirements and mortgage caps than they would have been without them, and relaxing credit rules too much risks reversing this trend”.
  • He notes that “there is a risk that the Inquiry's proposals could push up housing prices, increase household debt and make households more vulnerable to shocks.”
  • Pushback against the Inquiry’s proposals was also seen in the Riksbank’s H2 ‘24 Financial Stability Report, and a recent speech by Deputy Governor Bunge.
  • The Riksbank will provide a full assessment of the matter after the Government submits a proposal for consultation regarding the Inquiry’s proposals (expected in the Spring).