Households took out EUR 1.8 billion worth of new housing loans in November, at an average interest rate of 4.92%. This represented a slight fall in the average interest rate on new housing loans for the second consecutive month, in line with declining market rates. In recent years, the Euribor rates have been the most commonly used reference rates for housing loans in Finland. In November, 51% of new housing loan agreements were linked to Euribor rates.
The stock of housing loans extended to households by MFIs amounted to EUR 61.8 billion at the end of November, with an average interest rate of 4.96%. The housing loan stock continued to expand, even if the annual rate of growth has continued to fall slightly. In November, the annual rate of growth in the stock of housing loans stood at 12.6%.
The stock of loans to non-financial corporations amounted to EUR 47.6 billion, at an average interest rate of 5.16%. The annual rate of growth in the loan stock fell to 13.3% in November, from 13.9% in October.
The stock of household deposits was EUR 63.7 billion in November, almost 12% up on a year earlier.
The stock of household deposits was boosted by deposits with an agreed maturity of up to two years, which continued to grow rapidly for the fourth consecutive month. Since the end of July 2007, the stock of these deposits has increased by EUR 3.3 billion. The increase in November, at EUR 700 billion, was, however, slightly less than in October. At the end of November, the out-standing stock of deposits with an agreed maturity of up to two years amounted to EUR 18.6 billion. The average interest rate on these deposits was 4.18%, 0.08 percentage points higher than in October.
MFIs comprise all monetary financial institutions operating in Finland.
Loans and deposits comprise all euro-denominated loans and deposits of vis-à-vis the euro area as a whole, with countries other than Finland accounting for a very small share of otal volumes.
Elisabeth Hintikka tel. +358 10 831 2322