Bank of Finland: New mortgages amount to 2.2 billion euros in June | Yle Uutiset
The upward trend in home loans continued in Finland through June, according to the Bank of Finland.
The central bank said Finnish households obtained mortgages worth a total of € 2.2 billion in June, up € 358 million from the same month last year.
Finland’s home loans stood at 104.9 billion euros at the end of June, reflecting an annual growth rate of 4.3%.
The amount of new mortgages issued in May stood at 2.1 billion euros, which the bank said was the highest in the country since June 2008.
Vacation loans at near record levels
Finnish consumers are also increasingly borrowing funds to buy second homes.
The Bank of Finland said consumers took out loans worth around € 151 million for vacation properties in June.
New vacation home loans have grown at a record pace throughout the first half of this year, with second quarter mortgage lending levels 20% higher than the same period last year.
A total of 600 million euros of holiday home mortgages were issued in the first half of this year, an increase of 31% compared to 2020. The overall amount of home loans has increased to 4, 3 billion euros in June.
Meanwhile, secondary home loans accounted for just over 3% of the country’s total household loan stock in June, according to the central bank.