The beginning of 2018 saw a brisk activity in drawdowns of housing loans. In February, housing loan drawdowns were slightly up on the corresponding periods in the past five years. In January, in turn, housing loan drawdowns (EUR 1.3 bn) increased probably due to more moderate activity in December. Drawdowns in the first two months of 2018 were also slightly higher than in the corresponding period a year earlier. Activity in the housing loan markets typically increases in spring, while the turn of the year and the holiday month of July are more inactive periods. The spring and summer will show whether housing loan drawdowns will remain at the last year's level.

The average repayment period of housing loans drawn down in February was 20 years. This was the first time during the current decade for the average repayment period to reach 20 years. Housing loan maturities have lengthened since 2013, when the average repayment period was slightly below 18 years. In February, housing loans with the most popular repayment periods – i.e. loans of over 24 and less than 26 years – accounted for 45% of new drawdowns. The share of housing loans with a maturity of over 26 years grew in January–February, even though it is still small, i.e. 3%. Lengthening of repayment periods increases the risks associated with housing loans.


Households' new drawdowns of housing loans amounted to EUR 1.4 bn in February 2018. The average interest rate on new housing-loan drawdowns was 0.94% and the imputed margin was 0.91%. At the end of February, the stock of euro-denominated housing loans amounted to EUR 96.0 bn and the annual growth rate of the stock was 2.04%. Household credit at end-February comprised EUR 15.3 bn in consumer credit and EUR 16.9 bn in other loans.

New drawdowns of loans to non-financial corporations (excl. overdrafts and credit card credit) amounted to EUR 1.7 bn in February. The average interest rate on new corporate-loan drawdowns rose from January, to 2.05%. The stock of euro-denominated loans to non-financial corporations at end-February was EUR 80.0 bn, of which loans to housing corporations accounted for EUR 28.9 bn.


At the end of February, the stock of household deposits totalled EUR 87.3 bn, and the average interest rate on the deposits was 0.13%. Overnight deposits accounted for EUR 66.1 bn and deposits with agreed maturity for EUR 6.2 bn of the deposit stock. In February, households concluded EUR 0.4 bn of new agreements on deposits with agreed maturity, at an average interest rate of 0.33%.

Key figures of Finnish MFIs' loans and deposits, preliminary data

  December, EUR million January, EUR million February, EUR million February, 12-month change1, % Average interest rate, %
Loans   to households2, stock 128,131 128,021 128,101 2,6 1,51
    - of which housing loans 96,129 95,921 95,997 2,1 1,01
Loans to non-financial corporations2, stock  79,326 79,188 80,046 4,7 1,40
Deposits by households2, stock 87,886 87,008 87,324 3,4 0,13
Households' new drawdowns of housing loans 1,249 1,325 1,367   0,93

1 Rate of change has been calculated from monthly differences in levels adjusted for classification and other revaluation changes. 
2 Households also include non-profit institutions serving households; non-financial corporations also include housing corporations

For further information, please contact:
Ville Tolkki, tel. +358 9 183 2420, email: ville.tolkki(at)

The next news release will be published at 1 pm on 2 May 2018.

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