According to the Bank of Finland, the upward trend in housing loans continued in June in Finland.
The central bank said that Finnish households received mortgages totaling 2.2 billion euros in June, up 358 million euros over the same month last year.
By the end of June, Finnish housing loans totaled 104.9 billion euros, corresponding to an annual increase of 4.3 percent.
The volume of new mortgage loans issued in May amounted to 2.1 billion euros, which, according to the bank, was the highest in the country since June 2008.
Vacation home loans at near record highs
Consumers in Finland are also increasingly borrowing funds to buy a second home.
The Bank of Finland said that in June consumers took out loans of about 151 million euros for holiday real estate.
New vacation home loans grew at a record pace during the first half of this year, with mortgage rates 20 percent higher in the second quarter than in the same period last year.
A total of 600 million euros were issued in home mortgages in the first half of this year, up 31 percent from 2020. The total amount of home loans increased to 4.3 billion euros in June.
Meanwhile, according to the central bank, in June, secondary housing loans accounted for just over three percent of total loans to the country’s population.