Central bank: Average housing loan interest rate up to 2.4 percent in July
This July, the average interest rate on housing loans increased .2 percentage points on year to 2.4 percent. Nonetheless, the overall volume of housing loans issued increased from €144 million to €204 million on year, the Bank of Estonia said in a statistical release published Thursday.
Estonia's central bank also reported a 9.7 percent growth on year in the stock of loans and leases to households, which stood at €12 billion last month. Housing loans account for the lion's share of such loans at €10 billion.
A total of €204.8 million in housing loans were issued in Estonia last month, down €11.1 million compared with June but up €58.8 million on year.
Another €47.4 million was granted in credit card loans, down both €6.4 million on month and €400,000 on year.
Households leased €29.1 million of vehicles, up €100,000 compared with July but down €3.7 million on year.
Mortgage terms lengthen
In the second quarter of 2022, a total of 4,988 new housing loans with a mortgage were issued, with loans averaging €114,814 in size, marking an increase on year from 4,574 and €96,898, respectively.
The average mortgage term of housing loans issued in the second quarter increased by eight months on year to 26.1 years.
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Editor: Aili Vahtla
