Sweden Opposition Calls for Lower Rates as Debt Rises: Mortgages
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Sweden’s Social Democrats are heading for a national election victory backed by housing plans that could dig the country deeper into debt.
Magdalena Andersson, the party’s economic spokeswoman and the likely finance minister if the Social Democrat-led opposition prevails in this month’s election, has proposed using state-owned bank SBAB to bring down mortgage rates, already at four-year lows, to make housing more affordable. Andersson, whose party would boost spending on health care and education as well as housing, also suggested relaxing some rules designed to stem the growth in household debt, which is at an all-time high.