In November, Monetary financial institutions’ (MFIs) loans to households increased at an annual rate of 4.6 percent. This is an increase compared to October when the growth rate was 4.5 percent. The growth rate was 5.4 percent in November of 2011. MFIs include banks and housing credit institutions among others.
Households' borrowing from MFIs in November amounted to SEK 2 756 billion. This represents an increase of SEK 116 billion compared with the corresponding month last year. Most of the increase can be explained by housing loans, which accounted for SEK 99 billion of the increase 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 2 215 billion in November. The remaining part of household lending consists of, among other things, loans for consumption which often lack collateral and other loans where, for example, agricultural buildings comprise the collateral. In November, household loans for consumption amounted to SEK 167 billion and had an annual growth rate of 6.3 percent.
Lending by MFIs to non-financial corporations amounted to SEK 1 861 billion and had an annual growth rate of 2.0 percent. This is a decrease compared to October, when the growth rate was 2.8 percent. The growth rate was 5.3 percent in November of 2011. Loans with multi-dwelling buildings as collateral accounted for the majority of loans to non-financial corporations. In November, these loans amounted to SEK 561 billion. Unsecured loans, i.e. loans without collateral, amounted to SEK 331 billion.