Growth rate for lending to households continues to drop
In February, growth of loans for households from monetary financial institutions continued to drop. The growth rate in February was 5.0 percent, compared to 5.1 percent in January. In February 2011 the growth rate was 7.6 percent, and has shown a decreasing trend during all of 2011.
At the end of February households' borrowing from MFIs amounted to SEK 2 661 billion. This is an increase of SEK 126 billion compared to the corresponding month last year. The largest part of households' loans consists of housing loans, which in February amounted to SEK 2 137 billion and had an annual growth rate of 5.2 percent. Of these loans, 52 percent had floating rates, which is about the same as in January. Compared to February of the previous year, housing loans have increased by SEK 106 billion.
The remaining part of household lending consists of, among other things, loans for consumption that often lack security and loans to farmers where agricultural buildings comprise the security. Households' loans for consumption amounted to SEK 163 billion and loans with security of agricultural buildings amounted to SEK 165 billion.
MFIs' lending to non-financial corporations amounted to SEK 1829 billion. The annual growth rate was 6.0 percent, a decrease compared to January when the growth rate was 6.6 percent. The growth rate was 1.9 percent in February of 2011.