Financial market statistics, July 2025
Mortgage interest rates decline
Statistical news from Statistics Sweden 2025-08-27 8.00
The average total interest rate for housing loans decreased in July to 2.84 percent, from 3.01 percent in June 2025. The average floating interest rate on housing loans decreased from 3.04 percent in June to 2.86 percent in July, while the interest rate on loans with fixed terms between 1 and 5 years decreased from 2.97 percent to 2.87 percent over the same period. The growth rate for housing loans increased in July to a level of 2.4 percent, to be compared with 2.2 percent in June 2025.
– We see a general decline in mortgage rates for new household agreements in July, with regard to both the floating interest rate as well as the interest rates on loans with fixed terms, says Andrea Schöldtz, economist at Statistics Sweden (SCB).
Developments in July 2025 summarized
Lending
- The monetary financial institutions (MFI) annual growth rate of lending to households was 2.6 percent in July 2025. Housing loans accounted for 83 percent of total lending to households. The growth rate for housing loans increased to 2.4 percent in July 2025, from 2.2 percent in June 2025. Consumer loans, which accounted for 6 percent of total lending to households, had an annual growth rate of 4.6 percent, to be compared with 4.0 percent in June 2025.
- The annual growth rate for lending to non-financial corporations was 2.7 percent in July 2025.
- In total, lending from MFIs to households and non-financial corporations amounted to SEK 8 094 billion. Loans to households accounted for 63 percent (SEK 5072 billion) and loans to non-financial corporations accounted for 37 percent (SEK 3022 billion).
- The total lending from MFIs lending to households for housing loans, outstanding agreements, was SEK 4 193 billion in July 2025. The proportion with floating interest rate was 72 percent (SEK 3 025 billion) in July.
- The annual growth rate of housing loans from institutes other than MFIs on mortgage markets, known as mortgage credit companies, was noted at -0.8 percent in July 2025. Mortgage credit companies accounted for 1.0 percent (SEK 43 billion) of total housing loans to households which amount to SEK 4 236 billion.
Deposits
- In July 2025, MFIs’ total deposits from households amounted to SEK 2 856 billion. On demand deposits accounted for 75 percent (SEK 2 145 billion). It is to compare to July 2024 when on demand deposits accounted for 73 percent of total deposits to households (SEK 2721 billion).
- Notes and coins held by Swedish non-bank public, previously defined as the money supply measurement M0, amounted to SEK 56 billion in July 2025. The money supply M3 amounted to SEK 5 031 billion and had an annual growth rate of 4.4 percent.
Interest rates on lending and deposits
- In July 2025, the average interest rate on new agreements for housing loans to households was 2.84 percent compared to 3.01 percent in June. The average floating rate on housing loans was 2.86 percent in July, to be compared with 3.04 percent in June 2025.
- The average fixed interest rate between 1 and 5 years on new agreements for housing loans to households was 2.87 percent in July 2025. This can be compared to 2.97 percent in June 2025, and 3.40 percent in July 2024.
- In July 2025, the average interest rate on new agreements for lending to non-financial corporations was 3.83 percent, to be compared with 5.24 percent in July 2024.
- Households’ average interest rate on new bank deposits decreased from 0.67 percent in June 2025 to 0.62 percent in July. This can also be compared with 2.01 percent for the same indicator in July 2024. The interest rate on accounts with fixed periods or a limited number of free withdrawals was 1.40 percent in July 2025, compared to 3.17 percent in July 2024.
- Non-financial corporations’ average interest rate for new bank deposits was 1.02 percent in July 2025. The interest rate on accounts with fixed periods or a limited number of free withdrawals was 1.75 percent för the same period.
About the statistics
The financial market statistics cover mainly monetary financial institutions (MFIs), but also include new institutes on mortgage markets, known as mortgage credit companies. Unless otherwise stated, the statistical news refers to MFIs.
The statistics include balance sheet statistics (including lending and deposits), interest rates, and monetary aggregates.
Definitions and explanations
The financial market statistics are compiled monthly. Revisions of the statistics may occur.
Monetary financial institutions (MFIs) comprise banks, housing credit institutions, finance companies, institutions financing municipalities and companies, monetary securities companies and monetary investment funds (money market funds).
Mortgage credit companies refers to non-MFI institutions that have authorisation from Finansinspektionen to issue mortgages. Usually, mortgage credit companies sell the mortgages to alternative investment funds (AIFs). The AIFs included in the financial markets statistics are linked to mortgage credit companies, and whose assets mainly comprise mortgages.
Growth rates are calculated to illustrate the development of transactions as from the corresponding period the previous year. The rates are calculated based on changes in stocks; adjustments are made so that the growth rate is not affected by stock changes unrelated to transactions.
Lending to households is divided into three categories: housing loans, consumer credit, and other lending. The purpose of a loan is not directly measured, but is approximated by categorising lending by type of collateral. Housing loans are defined as loans to private individuals or entrepreneurial households with housing as collateral. Consumer credit refers to lending to private individuals, generally without collateral. Other lending includes all other lending, for example lending to non-profit institutions serving households.
New agreements refer to agreements concluded during a given month. Interest rate statistics on new agreements is a way of measuring the price formation on loans and deposits in a given period. These statistics include all financial agreements in which the terms and conditions affecting the interest rates on deposits and lending are determined for the first time. The statistics also include renegotiations of existing loans and relocation of loans. Changes in floating interest rates due to automatic adjustments are not considered new agreements.
The loan-to-value ratio for all households is based on a sample survey. The statistics for loan-to-value ratios are derived from the MFI institutions included in the sample survey for the interest rate statistics. As of March 2025, the upper limit is included in the semi-open interval, for more information see notes.
Next publishing will be
The next item of statistical news in this series is scheduled for publication on 2025-09-25.
Statistical Database
More information is available in the Statistical Database
Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.