Today, the Nordic countries, including Sweden and Finland, are famed for their distinguished universal, comprehensive social welfare systems, which have generated some successful outcomes, such as the maintenance of reasonably high total fertility rates (TFRs),1 high levels of human capital, and high labor participation ratios for women.
I am quite sure that rates on 1-year adjustable rate mortgages cannot be sustained at the current low level. I will not try to predict when it will rise. But I advise homeowners and others against stretching their budgets so tight that they can only make ends meet at the current very low interest rate level.