Does this mean it's time to switch to a fixed-term mortgage? This, in turn, increases the cost for banks to finance long-term mortgages and pushes up the interest rate on fixed-term mortgages with long terms. READ ALSO: Why are variable rate mortgages so popular in Sweden? A comparison of snitträntor, the average interest rates customers at Swedish banks received in August, shows that the gap between fixed-term and variable rates was relatively small. "I don't think this will get things going on the property market," he said.