Sweden Household Lending Growth Edges Up to 3.1%

The annual growth rate of lending to Swedish households edged up to 3.3% in July 2026 from 3.2% in the previous month, marking its highest level since December 2022. Housing loans, which accounted for 83% of total household credit, expanded by 3.4%, while consumer loans, representing 6% of the total, grew by 1.3%. Meanwhile, credit extended to non-financial corporations also rose by 3.5%. Overall borrowing costs continued to ease across the board, with the average interest rate on new housing loan agreements declining to 2.78% from 2.80% in June and the average floating mortgage rate ticking lower to 2.74% from 2.75%. The average fixed rate on new housing loans with maturities between one and five years dropped to 3.15% from 3.21%, while those with maturities over five years fell to 3.21% from 3.30%. Total household deposits contracted to SEK 2,967 billion from SEK 2,983 billion in June, with demand deposits accounting for 74% of total savings at SEK 2,206 billion.

The annual growth rate of lending to Swedish households rose to 3.2% in June 2026 from 3.1% in May, marking its highest level since January 2023. Housing loans, which accounted for 83% of total, increased by 3.3%, while consumer loans, representing 6% of household lending, grew by 1.1%. Lending to non-financial corporations also rose by 3.9%. Meanwhile, borrowing costs continued to ease, with the average interest rate on new housing loan agreements declining to 2.80% from 2.83% in May, while the average floating mortgage rate fell to 2.75% from 2.78%. The average fixed rate on new housing loans with maturities between one and five years also decreased to 3.21% from 3.25%. The average interest rate on new loans to non-financial corporations dropped to 3.31%, the lowest level since September 2022. On the funding side, household deposits increased to SEK 2,983 billion, with demand deposits accounting for 75% of total deposits, equivalent to SEK 2,225 billion.

The annual growth rate of lending to Swedish households edged up to 3.1% in May 2026 from 3.0% in April, marking its highest level since January 2023. Housing loans, which accounted for 83% of total household lending, grew by 3.2%, while consumer loans, representing around 6% of household lending, increased by 1.6%. Lending to non-financial corporations also accelerated to 3.3% from 3.1% in the previous month. Meanwhile, mortgage borrowing costs eased, with the average floating housing loan rate declining to 2.78% from 2.81%, while the average fixed rate on new housing loans with maturities between one and five years fell to 3.25% from 3.29%. The average interest rate on new mortgage agreements also decreased to 2.83% from 2.88%. On the funding side, household deposits rose to SEK 2,967 billion, with 74% held in demand accounts, amounting to SEK 2,208 billion.