Housing loan stock nearly EUR 100 bn
In October 2019, the stock of housing loans granted by credit institutions increased to almost EUR 100 bn (EUR 99.95 bn). The growth rate of the housing loan stock has picked up since early 2019. In October it was 2.4%, and a higher growth rate has last been recorded in September 2016. Growth in the stock of housing loans in October was fuelled by new housing loans and the high volume of their drawdowns.

New housing loan drawdowns in October 2019 amounted to EUR 1.9 bn, up by EUR 145 million on the corresponding period a year earlier. The last time housing loan drawdowns in October have exceeded this level was in 2007. The decline in the average interest rate on new housing loans has halted since the summer, and during the past three months the average rate has been 0.72%.
Recent years have seen a lengthening in the average amortisation periods of housing loans in Finland. In October 2019, the average maturity of a housing loan was 20 years 9 months. Over 68% of new housing loans were granted with a maturity of over 20 years. The share of loans with longer amortisation periods (over 29 years) in new housing loans has increased: in October 2019, the share was 7%, compared with 3% in October 2018.
Loans
At the end of October, household credit comprised EUR 16.5 bn in consumer credit and EUR 17.6 bn in other loans. New drawdowns of loans to non-financial corporations (excl. overdrafts and credit card credit) amounted to EUR 2.2 bn in October. The average interest rate on new corporate-loan drawdowns declined from September, to 2.21%. At the end of October, the stock of euro-denominated loans to non-financial corporations was EUR 90.6 bn, of which loans to housing corporations accounted for EUR 34.6 bn.
Deposits
The stock of deposits by Finnish households at end-October totalled EUR 94.4 bn and the average interest rate on the deposits was 0.11%. Overnight deposits accounted for EUR 81.5 bn and deposits with agreed maturity for EUR 4.9 bn of the deposit stock. In October, households concluded EUR 0.4 bn of new agreements on deposits with agreed maturity, at an average interest rate of 0.12%.
Related statistical data and graphs are also available on the Bank of Finland website: https://www.suomenpankki.fi/en/Statistics/mfi-balance-sheet/.
Contacts
Meri Sintonen, tel. +358 9 183 2247, email: meri.sintonen(at)bof.fi,
Markus Aaltonen, tel. +358 9 183 2395, email: markus.aaltonen(at)bof.fi.
Images
Links
About Suomen Pankki
The Bank of Finland is the national monetary authority and central bank of Finland. At the same time, it is also a part of the Eurosystem, which is responsible for monetary policy and other central bank tasks in the euro area and administers use of the world’s second largest currency – the euro.
Subscribe to releases from Suomen Pankki
Subscribe to all the latest releases from Suomen Pankki by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Suomen Pankki
Bostadslånen uppgick redan till närmare 100 miljarder euro2.12.2019 13:00:00 EET | Tiedote
Det utestående beloppet av bostadslån från kreditinstitut var nästan 100 miljarder euro (99,95 miljarder euro) i oktober 2019. Tillväxttakten för utestående bostadslån har ökat från början av 2019 och låg i oktober på 2,4 %. Senast var tillväxttakten snabbare i september 2016. Den livliga efterfrågan på nya bostadslån i oktober bidrog till att öka tillväxten.
Asuntolainakanta jo lähes 100 mrd. euroa2.12.2019 13:00:00 EET | Tiedote
Luottolaitosten myöntämien asuntolainojen kanta kasvoi lähes 100 mrd. euroon (99,95 mrd. euroa) lokakuussa 2019. Asuntolainakannan kasvuvauhti on kiihtynyt vuoden 2019 alusta ja oli lokakuussa 2,4 %. Viimeksi kasvuvauhti oli nopeampaa syyskuussa 2016. Asuntolainakannan kasvua vauhdittivat uudet asuntolainat, joita nostettiin lokakuussa runsaasti.
Konferensen Data Driven Financial Stability diskuterar konsekvenserna av artificiell intelligens och stordata för finansmarknaden29.11.2019 15:45:00 EET | Uutinen
Finlands Bank arrangerar en internationell konferens om användningen av artificiell intelligens och stordata på finansmarknaden den 2–3 december 2019 i Finlandiahuset
Data Driven Financial Stability conference to discuss financial market impacts of artificial intelligence and big data29.11.2019 15:45:00 EET | Uutinen
The Bank of Finland is organising an international conference on the financial markets’ use of artificial intelligence and big data, to be held in the Finlandia Hall in Helsinki on 2–3 December.
Data Driven Financial Stability -konferenssissa asiaa tekoälyn ja massadatan vaikutuksista rahoitusmarkkinoihin29.11.2019 13:46:17 EET | Tiedote
Suomen Pankki järjestää kansainvälisen konferenssin tekoälyn ja massadatan käytöstä rahoitusmarkkinoilla Finlandia-talolla 2.-3. joulukuuta.
IMF:n lausunto Suomen taloudesta19.11.2019 10:00:00 EET | Tiedote
Kansainvälisen valuuttarahaston (IMF) Suomessa vieraileva asiantuntijaryhmä on luovuttanut viranomaisille lausuntonsa Suomen talouden tilasta ja rahoitussektorin vakaudesta.
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom