Growth in the euro volume of new housing corporation loans, which has already continued for several years, has levelled off. In April 2019, drawdowns of housing corporation loans totalled EUR 0.4 bn – almost one-fifth less than a year earlier. Since the beginning of 2019, new drawdowns have amounted to EUR 1.9 bn, which is EUR 0.1 bn less than in the corresponding period in 2018.

Housing corporations had EUR 32.8 bn of loans and EUR 4.9 bn of undrawn credit facilities in April 2019. Besides ordinary housing companies, housing corporations include e.g. companies engaged in renting of housing. According to an estimate by Statistics Finland, slightly over 60% of housing corporation loans are borne by households. The interest rates on housing corporation loans have been slightly higher than housing loan rates for well over a year. In April 2019, the interest rate on new drawdowns of housing corporation loans was 1.04%, while the rate on housing loans was 0.80%. Housing corporation loans are also about three years longer on average than housing loans.

While borrowing by housing corporations has levelled off, construction activity has also slackened at the same time. According to Statistics Finland, the number of building permits has decreased and growth of ongoing building production has abated in the first quarter of 2019.


In April 2019, households’ new drawdowns of housing loans amounted to EUR 1.6 bn, slightly up on the corresponding period a year earlier. At the end of April, the stock of euro-denominated housing loans totalled EUR 98.1 bn and the annual growth rate of the stock was 1.9%. Household credit at end-April comprised EUR 15.9 bn in consumer credit and EUR 17.3 bn in other loans.

New drawdowns of loans to non-financial corporations (excl. overdrafts and credit card credit) amounted in April to EUR 1.8 bn. The average interest rate on new corporate-loan drawdowns declined from March, to 2.12%. At the end of April, the stock of euro-denominated loans to non-financial corporations was EUR 87.0 bn.


The stock of household deposits at end-April totalled EUR 92.0 bn and the average interest rate on the deposits was 0.11%. Overnight deposits accounted for EUR 78.9 bn and deposits with agreed maturity for EUR 5.1 bn of the deposit stock. In April, households concluded EUR 0.5 bn of new agreements on deposits with agreed maturity, at an average interest rate of 0.21%.

  February, EUR million March, EUR million April, EUR million April, 12-month change1, % Average interest rate, %
Loans to households2, stock 131,006 131,289 131,334 2,4 1,47
    - of which housing loans 97,852 98,067 98,138 1,9 0,97
Loans to non-financial corporations2, stock 85,883 86,591 86,986 7,6 1,36
Deposits by households2, stock 93,505 95,345 96,228 7,9 0,11
Households' new drawdowns of housing loans 1,363 1,458 1,622   0,80

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:

Olli Tuomikoski, tel. +358 9 183 2146, email: olli.tuomikoski(at),
Johanna Honkanen, tel. +358 9 183 2992, email: johanna.honkanen(at)

The next news release will be published at 1 pm on 2 July 2019.

Related statistical data and graphs are also available on the Bank of Finland website: