Mortgages were raised briskly – growth of 24 percent per year

Mortgages was raised in January much more lively than in the January of last year and the year before, tells Bank of Finland. Compared to last January, lifting rates increased by 24 % and 18 % from January 2023.

In total, households raised new mortgages of EUR 1 billion. Compared to December, the average interest rate on the new withdrawals increased to 3.20 %, with the most common reference rate, 12 months of Euribor. However, compared to a year ago, average interest rates have fallen by 1.16 percentage points. In January, the 12 -month Euribor was on average over 2.5 percent.

About ten percent of the new mortgage lifting, 104 million, focused on investment homes.

Euriborkorot retained their position as the most popular reference rates. Almost 96 % of new mortgages were tied to euribor heels of different lengths. Nearly 76 % of the loans were tied to the 12 -month Euribor, just under 10 % to six months and over 14 % to either one or three months of Euribor.

Loans are usually preferred by the Euribor rate that is the lowest at the time of lifting. The popularity of Euribors shorter than year in recent years gained its peak in October 2023, when more than half of the Euribors’ mortgages were tied to them.

Bank The proportion of my own prime rates has remained a very small slice of the whole. In January, only one 1 -third of the new mortgages were tied to them.

At the end of January, the mortgage stock was EUR 105.6 billion. On an annual basis, it fell by 0.6 percent. In addition to mortgages, Finnish households had consumer loans of 17.7 billion and other loans EUR 17.6 billion.

At the end of January, the combined deposits of households were EUR 111.2 billion. The average interest rate on deposits was 1.16 %. The share of periodic deposits accounted for 15 billion. New fixed -term deposits were made at EUR 1.2 billion, with an average interest rate of EUR 2.66.