Financial market statistics, November 2025
Interest rates for housing loans with longer fixed terms are rising
Statistical news from Statistics Sweden 2025-12-30 8.00
The average floating interest rate for housing loans decreased slightly in November 2025 to 2.68 percent compared with October. The average fixed interest rate on housing loans with maturities over 5 years increased by 0.12 percentage points in November, reaching 3.21 percent. The annual growth rate for housing loans showed a marginal change in November and was 2.7 percent.
– We see a decline in the floating interest rate for housing loans, while fixed rates on new household agreements with longer maturities are increasing, says Irina Wiman economist at Statistics Sweden (SCB).
Developments in November 2025 summarized
Lending
- The monetary financial institutions (MFI) annual growth rate of lending to households was 2.8 percent in November 2025. Housing loans accounted for 83 percent of total lending to households. The growth rate for housing loans was 2.7 percent. Consumer loans, which accounted for 6 percent of total lending to households, had an annual growth rate of 3.1 percent.
- The annual growth rate for lending to non-financial corporations was 3.5 percent in November 2025, to be compared with 3.0 percent in October 2025.
- In total, lending from MFIs to households and non-financial corporations amounted to SEK 8 154 billion. Loans to households accounted for 63 percent (SEK 5 123 billion) and loans to non-financial corporations accounted for 37 percent (SEK 3 031 billion).
- The total lending from MFIs lending to households for housing loans, outstanding agreements, was SEK 4 238 billion in November 2025. The proportion with floating interest rate was 74 percent (SEK 3 147 billion) in November.
- The annual growth rate of housing loans from institutes other than MFIs on mortgage markets, known as mortgage credit companies, was noted at -4.8 percent in November 2025. Mortgage credit companies accounted for 1.0 percent (SEK 42 billion) of total housing loans to households which amount to SEK 4 281 billion.
Deposits
- In November 2025, MFIs’ total deposits from households amounted to SEK 2 872 billion. On demand deposits accounted for 75 percent (SEK 2 150 billion). It is to compare to November 2024 when on demand deposits accounted for 74 percent of total deposits to households (SEK 2 738 billion).
- Notes and coins held by Swedish non-bank public, previously defined as the money supply measurement M0, amounted to SEK 55 billion in November 2025. The money supply M3 amounted to SEK 5 026 billion and had an annual growth rate of 3.4 percent.
Interest rates on lending and deposits
- In November 2025, the average interest rate on new agreements for housing loans to households was 2.71 percent. The average floating rate on housing loans was 2.68 percent.
- The average fixed interest rate between 1 and 5 years on new agreements for housing loans to households was 2.89 percent in November 2025.
- In November 2025, the average interest rate on new agreements for lending to non-financial corporations was 3.51 percent, to be compared with 3.93 percent in November 2024.
- Households’ average interest rate on new bank deposits decreased from 0.47 percent in October 2025 to 0.45 percent in November. This can also be compared with 1.22 percent for the same indicator in November 2024. The interest rate on accounts with fixed periods or a limited number of free withdrawals was 1.14 percent in November 2025, compared to 2.19 percent in November 2024.
- Non-financial corporations’ average interest rate for new bank deposits was 0.84 percent in November 2025. The interest rate on accounts with fixed periods or a limited number of free withdrawals was 1.55 percent for 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 2026-01-29 8:00.
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.