After the increase – that's how much more expensive your mortgage will be

It is the variable mortgages that are directly affected by the Riksbank's policy rate. The bonds are governed more by other factors such as market interest rates, inflation and the economic situation.

The banks are usually quick to change their variable mortgage rates in connection with the Riksbank's announcement. There has been criticism that the banks are slow to lower mortgage rates but all the faster to lower savings rates. In the event of increases by the Riksbank, the banks usually quickly follow suit.

Before Wednesday's interest rate announcement, the banks' average interest rates for three-month loans in September for the various banks ranged from 2.58 percent to 2.85 percent, according to the comparison site Compricer. The average interest rate is the level that the banks have given in reality after negotiations with customers.

Roughly calculated, you can add a percentage point to the Riksbank's policy rate to see where the variable mortgages will end up.

For Swedbank, which is the largest player in the mortgage market, the average interest rate is 2.69 percent in September. Should the Riksbank's increase go through completely, the new average interest rate would in theory end up around 3 percent.

The list rate is the one that the banks formally specify and which is higher. For Swedbank, it is 3.89 percent. It could then go up to 4.14 percent.

An average mortgage for a condominium is SEK 1.6 million, according to a previous report from SBAB. For a person with an interest rate of 3 percent, the monthly cost would increase by just over SEK 230 if the increase of 0.25 percentage points goes through completely. Here, the interest deduction is included in the calculation.

For an average home loan of SEK 1.8 million with the same interest rate and terms, the monthly cost would increase by just over SEK 260.

On a loan of SEK 3 million, the monthly cost increases by SEK 438 after interest deduction.