The average interest rate on the loans was 4.26 percent.
At the end of last month, the housing loan portfolio was 107.2 billion euros, which means a decrease of 0.8 percent from a year earlier. The stock started to contract in April for the first time since 1997.
The stock of ordinary mortgages decreased by 0.7 percent and the stock of mortgage loans for purchase by 1.6 percent from the previous year.
Although withdrawals of new home loans are being reduced, withdrawals of new vehicle loans increased by 20 percent year-on-year to 182 million euros. Withdrawals of unsecured consumer loans increased clearly from the previous year, by seven percent to 254 million euros, while withdrawals of secured consumer loans decreased by 18 percent to 67 million euros.
The annual interest rate on new vehicle loans was 5.73 percent and the average interest rate on unsecured consumer loans was 12 percent in May, according to the Bank of Finland.
Aleksi Teivainen – HT
Source: The Nordic Page