Swedish Household Lending Growth Holds at Highest Since 2022

The annual growth rate of lending to Swedish households held at 3.3% in August 2026, unchanged from July and remaining at its highest level since December 2022. Housing loans, which accounted for 83% of total household credit, grew 3.5%, while consumer loans, representing 6%, increased 1.4%. Meanwhile, lending to non-financial corporations expanded 3.9%. Borrowing costs remained broadly lower, with the average interest rate on new housing loan agreements steady at 2.78%, while the average floating mortgage rate edged down to 2.73% from 2.74%. The average fixed rate for new housing loans with maturities of one to five years rose to 3.18% from 3.15%, while rates for maturities above five years increased to 3.34% from 3.21%. Total household deposits edged up to SEK 2,970 billion from SEK 2,967 billion, with demand deposits accounting for 74% of savings at SEK 2,202 billion.

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.