Nordea marks down Danish mortgages by €29 million

House price declines mark ominous signal for other supercharged markets

Nordea marked down Danish fair-value mortgages by €29 million ($28.4 million) in the third quarter, the result of a correction in property values that bodes ill for other red-hot markets in the Nordic region.

The Finnish group said it modelled a lower value for the portfolio following a fall in house prices in Denmark. It was the largest negative adjustment since at least Q4 2019, when the bank first started disclosing separate figures, and only the second-largest after a €1 million markdown

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