Swedish Household Lending Growth Ticks Down

The annual growth rate of lending to Swedish households rose to 2.9% in December 2025, returning to October’s nearly three-year high, from 2.8% in November. Housing loans, which accounted for 83% of total household lending, also grew steadily at 2.9%, while consumer loans, representing around 6% of household lending, increased by 3.2%. Lending to non-financial corporations expanded 3.6%, a sharp turnaround from a contraction in December 2024. Meanwhile, the average floating mortgage rate continued its downward trend, easing to 2.65% in December from 2.68% in November, while the average fixed rate on new housing loans with maturities of 1–5 years edged slightly higher to 2.93%. The average interest rate on new mortgage agreements stood at 2.69%. On the funding side, household deposits totaled SEK 2,871 billion, with 75% held in on-demand accounts.

The annual growth rate of lending to Swedish households inched down to 2.8% in November 2025, following an almost three-year high of 2.9% in October. Housing loans, which make up 83% of total household lending, stood at 2.7% year-on-year, while consumer loans, accounting for 6% of household lending, grew 3.1%, down from 4.4% in October. Lending to non-financial corporations rose 3.5% over the year. Meanwhile, the average interest rate on new mortgage agreements eased to 2.71% in November, slightly down from 2.72% in October, while the average fixed rate on new housing loans with 1-5 years maturities remained at 2.89%. Deposits from households increased to SEK 2,872 billion from SEK 2,853 billion in the previous month, with 75% held in on-demand accounts.

The annual growth rate of lending to Swedish households rose to 2.9% in October 2025 from 2.8% in September, reaching its highest level since February 2023. Housing loans which make up 83% of total household lending, increased by 2.7% year-on-year. Consumer loans, which account for 6% of household lending, grew by 4.0% annually. Lending to non-financial corporations increased by 3.0% over the year. Meanwhile, the average interest rate on new mortgage agreements grew at 2.72% in October, down from 2.80% in September, while the average fixed rate on new housing loans with maturities of 1–5 years was higher at 2.89%.