Swedes are taking high interest loans to finance down payments
Experts now warn that more and more Swedes are taking high interest loans to finance down payments for housing purchases
"Consumer loans reached the highest growth rate in ten years in June, and experts now warn that more and more Swedes are taking high interest loans to finance down payments for housing purchases," says Dagens Industri.
"I have difficulty believing that other consumer credit, such as travel and furniture purchases, can explain an almost double digit rate of growth," said Arturo Arques, economics economist at Swedbank, to the newspaper.
While the housing loan growth is stable at 7-8 percent, the increase in consumer loans in June was 9.4 percent, the highest listing since 2008. "
Source: http://omni.se/fler-svenskar-lanar-blanco-till-kontantinsatser/a/4PwqV
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