Mortgage loans in Finland increase again in April, according to central bank | Yle Uutiset
New home loan drawdowns by Finnish households in April totaled around 1.9 billion euros, up 482 million euros from the same month last year, according to the Bank of Finland.
At the end of April, Finland’s home loan stock stood at 104 billion euros, with a loan stock growth rate of 4%, according to the central bank.
The average interest rate on mortgage loans stood at 0.82% at the end of April, with loans to households representing 16.5 billion euros in consumer loans and 17.4 billion euros in other loans.
The bank mentionned that nearly a fifth of household consumer loans issued by credit institutions consisted of loans for the purchase of vehicles.
Out of all consumer loans, car loans amounted to 3 billion euros, bank loans and credit cards reached around 4 billion euros, and more than 9 billion euros in others. consumer credit, according to the bank.
In December, the central bank announced that mortgage lending had reached an all-time high, with average interest rates on new loans falling to a record low of 0.69%.
At the start of last month, the bank noted that the growing indebtedness of Finnish households threatened the country’s ability to cope with future economic crises.