Riksbank raises policy rate for first time in 3+ years; Swedish mortgage borrowers face variable-rate shock

The Riksbank has raised its policy rate for the first time in over three years, a shift that directly pressures Sweden's mortgage market, where nearly 80% of mortgages are variable-rate. The move signals a tightening cycle that will raise borrowing costs for households and could dampen consumption. The central bank's action marks a clear reversal from its prior easing stance, and the impact on Swedish housing and consumer spending is the key uncertainty.

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