Riksbank Rate Cut Could Save Homeowners Thousands

Swedish families with big variable home loans could save thousands of kronor when the Riksbank cuts interest rates twice as many expect. The central bank will likely reduce rates Wednesday from 2.25 percent down to 2 percent. Experts predict another cut before December ends that would bring rates down to 1.75 percent. News reports show that someone with a 3 million kronor mortgage would pay 15,000 kronor less each year. These rate cuts would help many homeowners across Sweden manage their monthly payments better.