Central bank: Mortgage interest rates in Estonia at all-time low in August
Home loan average interest rates reached an all-time low in August at 2.02 percent, the Bank of Estonia (Eesti Pank) reports.
The August figure was 0.29 percentage points lower than the figure for August 2020 and 0.04 percentage points lower than in July this year, the central bank said, while loans and leases to households grew by 5.6 per cent year-on-to in August, to a total of €11 billion.
Credit and loans in August 2021 quick facts:
- Assets of credit institutions totaled €36.8 billion, 4.8 percent or (€1.7 billion) more than in July, and 12.3 more than August 2020.
- Growth on year came mainly from loans to households.
- Assets of leasing companies totaled €3 billion, and yearly growth here was 3.1 percent (€93.5 million).
- Stock of deposits at credit institutions was €26.5 billion, 6.5 percent, or €1.6 billion, more than in July and 18.7 percent, or €4.2 billion higher than August 2020.
- The largest contribution to the growth over the year came from the deposits of resident households.
- Non-resident deposits grew by €1.6 billion on year and made up 13.7 percent of the stock of deposits of credit institutions.
- Loans to households and non-financial companies that were overdue more than 60 days in the loan portfolio of credit institutions totaled €73.4 million, or 0.41 percent, compared with 0.56 percent a year earlier.
- The volume of loans to households and non-financial companies that were overdue by more than 60 days fell over the year.
More detailed information is available on the Bank of Estonia site here.
--
Follow ERR News on Facebook and Twitter and never miss an update!
Editor: Andrew Whyte