Monetary financial institutions' (MFIs) loans to households increased at an annual growth rate of 4.5 percent in June. This was a decrease compared to May, when the growth rate was 4.6 percent. In June 2011, the growth rate was 6.7 percent and had a downward trend for the whole of last year. MFIs include banks and housing credit institutions among others.
MFI loans to households in June amounted to SEK 2 705 billion. This is an increase of SEK 118 billion compared to the corresponding month last year. The increase is primarily due to housing loans, which represented SEK 100 billion of the increase and had an annual growth rate of 4.8 percent. Housing loans are loans to households with single-family dwellings, condominiums and tenant-owned apartments as collateral. In June, household’s outstanding housing loans amounted to SEK 2 171 billion. The remaining part of household lending consists of, among other things, loans for consumption that often lack collateral and loans to farmers, where agricultural buildings comprise the collateral. In June, household loans for consumption amounted to SEK 166 billion and had an annual growth rate of 5.6 percent. Other loans amounted to SEK 368 billion in June and had an annual growth rate of 2.3 percent.
In June, the growth rate in lending by MFIs to non-financial corporations continued to decrease. The annual growth rate in June was 3.8 percent compared to 4.5 percent in May. Lending to non-financial corporations in June amounted to SEK 1 863 billion. This represents an increase of SEK 71 billion compared with the corresponding month last year. Loans with multi-dwelling buildings as collateral represented the largest part of loans to non-financial corporations. These loans amounted to SEK 553 billion in June.