Monetary financial institutions' (MFIs) loans to households increased at an annual rate of 4.4 percent in July. This was a decrease compared to June, when the growth rate was 4.6 percent (revised figure). In July 2011, the growth rate was 6.5 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 July amounted to SEK 2 715 billion. This is an increase of SEK 117 billion compared to the corresponding month last year. Most of the increase can be explained by housing loans which accounted for SEK 98 billion and had an annual growth rate of 4.7 percent. Housing loans are loans to households with single-family dwellings, condominiums and tenant-owned apartments as collateral. Outstanding housing loans to households at MFIs amounted to SEK 2 177 billion in July. The remaining part of household lending consists of, among other things, loans for consumption that often lack collateral and other loans where, for example, agricultural buildings comprise the collateral. In July, household loans for consumption amounted to SEK 166 billion and had an annual growth rate of 4.9 percent. Other loans amounted to SEK 372 billion and in July had an annual growth rate of 2.6 percent.
The growth rate for lending by MFIs to non-financial corporations continued to decrease in July. The annual growth in July was 2.8 percent compared to 3.6 (revised figure) percent in June. In July, lending to non-financial corporations amounted to SEK 1 849 billion. This is an increase of SEK 51 billion compared to the corresponding month last year. Most of the loans to non-financial corporations comprised loans with multi-dwelling buildings as collateral. In July, these loans amounted to SEK 553 billion. Loans to tenant-owner associations amounted to SEK 335 billion.