Finns have long been hardwired to think that a mortgage should be repaid as quickly as possible.
Helsingin Sanomat reports that the government seems to be signalling, if not actively encouraging, that households repay their mortgages more slowly than before. From the beginning of this month, the maximum maturity of new home loans was extended to 40 years.
Niku Määttänen, a professor of economics at the University of Helsinki, challenges the traditional Finnish instinct to eliminate mortgage debt as quickly as possible.
“This model can leave a household with a net wealth of 500,000 euros or more at some point. I would ask whether that is a sensible amount of saving for an ordinary household,” Määttänen asked, noting that smaller monthly payments leave more room for investing.
HS, however, points out that a longer mortgage term significantly increases the total amount paid to the bank over the life of the loan.
Hornets in the air
A Nato air exercise stretching from Spain to the northern reaches of the Nordic region begins on Monday, reports Maaseudun Tulevaisuus.
The drill, dubbed Ramstein Flag 26, brings together more than 200 aircraft from 18 allied countries.
Finland’s Air Force will participate with 12 Hornet fighter jets and around 500 personnel. Finnish Air Force units from across all service branches will be involved in the exercise, which is set to conclude by Midsummer.
Designer dogs
Finland is seeing a rise in so-called ‘designer dogs,’ with the Tampere-based daily Aamulehti reporting growing interest in the pomsky.
The pomsky, a cross between a Pomeranian and a Siberian husky, is becoming increasingly popular in Finland, with puppies now selling for several thousand euros.
The breed first gained traction in the United States in the 2010s, before gradually spreading to other markets, including Finland.
“This is, in my view, a commercial product,” said Kirsi Sainio, of the Finnish Kennel Club, pointing out that pomsky breeding is not about developing or improving an established breed.
She warns that engineered breeds can face a range of problems, from unpredictable temperaments to various health issues.
