Finland Times

Overall, households’ new drawing of housing loans in 2014 have been moderate, totalling EUR 13.9 billions, which is EUR 0.3 billion less than in January-November 2013.
The annual growth rate of the housing loan stock was only 1.6 per cent in November 2014, compared to 2.6 per cent in the same period a year earlier. 

Simultaneously with the slowing of growth in the housing loan stock, banks’ customer-specific loan margins have narrowed. The average housing loan margin calculated by the Bank of Finland was 1.45 per cent at the end of November 2014, compared to 1.56 per cent still at the beginning of the year.

The stock of euro-denominated housing loans amounted to EUR 89.8 billion at the end of November, and the average interest rate was 1.45 per cent.

At the end of November, household credit comprised EUR 13.6 billion in consumer credit and EUR 15.6 billion in other loans.

New drawdown of loans to non-financial corporations (excl. overdrafts and credit card credit) amounted in November to EUR 1.8 billion, which is about EUR 0.8 billion less than in November 2013. 

The average interest rate on new corporate-loan drawdown decreased from October to 2.35 per cent.

The stock of euro-denominated loans to non-financial corporations at the end of November was EUR 67.9 billion, of which loans to housing corporations accounted for EUR 21.0 billion.

At the end of November, the stock of household deposits totalled EUR 80.4 billion, and the average interest rate on these deposits was 0.38 per cent. 

Overnight deposits accounted for EUR 54.2 billion and deposits with agreed maturity for EUR 12.9 billion of the total deposit stock.

In November, households concluded EUR 0.9 billion of new agreements on deposits with agreed maturity. The average interest rate on these was 1.04 per cent.