Financial market statistics, March 2025
Floating and fixed mortgage interest rates increasingly similar
Statistical news from Statistics Sweden 2025-04-29 8.00
The floating mortgage interest rate continues to decrease, albeit marginally, and was 3.09 percent in March 2025. At the same time, the interest rate for fixed terms between 1 and 5 years increased to 3.10 percent. The growth rate for housing loans increased in March to a level of 1.8 percent, while the growth rate for consumer loans decreased to 5.2 percent.
– The proportion of mortgages with variable interest rates continues to be dominant and in March 2025 it was 71 percent. However, this is a decrease of 1 percentage point compared to February 2025, which was a record month regarding the proportion of mortgages with variable interest rates, says Olha Borgelin, statistician at Statistics Sweden (SCB)
Developments in March 2025 summarized
In March 2025, Financial Market Statistics, tabs 8.1-8.4, were expanded to include interest rates for outstanding agreements.
Lending
- The annual growth rate of lending from MFIs (includes banks and mortgage institutions, among others) to households was 2.1 percent in March 2025. Housing loans accounted for 83 percent of total lending to households. The growth rate for housing loans increased from 1.7 percent in February 2025 to a level of 1.8 percent in March 2025. Consumer loans, which accounted for 6 percent of total lending to households, had an annual growth rate of 5.2 percent, to be compared with 6.0 percent in February 2025.
- The annual growth rate for lending to non-financial corporations was 0.5 percent in March 2025.
- In total, lending from MFIs to households and non-financial corporations amounted to SEK 7 973 billion. Loans to households accounted for 63 percent (SEK 5 020 billion) and loans to non-financial corporations accounted for 37 percent (SEK 2 953 billion).
- The total lending from MFIs lending to households for housing loans, outstanding agreements, was SEK 4 153 billion in March 2025. The proportion with variable interest rate was 71 percent (SEK 2 952 billion) in March. In February 2025, the proportion with variable interest rate was 72 percent (SEK 2 980 billion).
- The annual growth rate of housing loans from institutes other than MFIs on mortgage markets, known as mortgage credit companies, was noted at -1.0 percent in March 2025. Mortgage credit companies accounted for 1.1 percent (SEK 44 billion) of total housing loans to households which amount to SEK 4 198 billion.
Deposits
- In March 2025, in total, MFI:s deposits from households amounted to SEK 2 762 billion. On demand deposits accounted for 75 percent (SEK 2 078 billion). It is to compare to March 2024 when on demand deposits accounted for 74 percent of total deposits to households (SEK 2 702 billion).
- Notes and coins held by Swedish non-bank public, previously defined as the money supply measurement M0, amounted to SEK 55 billion in March 2025. The money supply M3 amounted to SEK 4 951 billion and had an annual growth rate of 2.2 percent.
Interest rates on lending and deposits
- In March 2025 the average interest rate on new agreements for housing loans to households was 3.09 percent. The average floating rate on housing loans was 3.09 percent in March, compared to 3.10 percent in February 2025.
- The average fixed interest rate between 1 and 5 years on new agreements for housing loans to households was 3.10 percent in March 2025. This can be compared to 2.96 percent in February 2025 and 3.74 percent in March 2024.
- The average interest rate in March 2025 on new agreements for lending to non-financial corporations was 3.75 percent, to be compared with 5.39 percent in March 2024.
- Households’ average interest rate on new bank deposits was 0.83 percent in March 2025, to be compared with 2.14 percent in March 2024. The interest rate on accounts with fixed periods or a limited number of free withdrawals was 1.65 percent in March 2025, compared to 3.35 percent in March 2024.
- Non-financial corporations’ average interest rate for new bank deposits was 1.22 percent. The interest rate on accounts with fixed periods or a limited number of free withdrawals was 1.83 percent.
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. These statistics are new and may be subject to revision.
Next publishing will be
The next item of statistical news in this series is scheduled for publication on 2025-05-28.
Statistical Database
More information is available in the Statistical Database
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