The drawdown hit at the same time as the government’s temporary interest rate cap on consumer credit expired. The average interest rate on new unsecured consumer credit, excluding vehicle loans, thus rose by 0.55 percentage points from the previous month to 8.34%.
The popularity of unsecured consumer loans grew, especially in non-bank institutions, whose average interest rates on loans were over 11 per cent in October.
At the end of October, the consumer credit burden of Finnish households totaled EUR 16.6 billion.
The Bank of Finland also reports that the total value of mortgage loans fell by EUR 111 million in October to EUR 1.9 billion. Almost one tenth (9.3%) of the loans were loans to be purchased.
The housing loan stock was EUR 106.3 billion and the annual growth rate was 4.1 per cent.
Aleksi Teivainen – HT
Fuente: La página nórdica