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Slower growth rate for Swedish household loans

Monday, 28 January 2013
The Swedish Monetary financial institutions’ (MFIs) say that Swedish household loans increased at an annual rate of 4.5 percent. This is lower than in November when the growth rate was 4.6 percent, thus a slight fall.

According to statistic Sweden, the growth rate was 5.2 percent in December of 2011. The growth rate during the second half of 2012 has remained between 4.5 and 4.6 percent. MFIs include banks and housing credit institutions among others.

One of the drivers of the growth of Swedish has been attributed to what is always described as that Swedish houses are over valued. Thus expensive houses means higher loans and more borrowing. But according to this new report, that borrowing has fallen. Housing loans are loans to households with single-family dwellings, condominiums and tenant-owned apartments as collateral.

Households' borrowing from MFIs in December amounted to Skr 2 764 billion. This represents an increase of Skr 115 billion compared with the corresponding month last year. Most of the increase can be explained by housing loans, which accounted for Skr 97 billion of the increase and had an annual growth rate of 4.6 percent in December.
by Scancomark.se - Source SCB

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