Central bank: September average housing loan interest rate tops 3 percent
The average interest rate on housing loans in Estonia in September reached 3.1 percent, up from 2.1 percent on year, according to a statistical release on credit institutions and leasing companies published by the Bank of Estonia on Thursday.
According to the central bank, a total of €182.9 million in housing loans were issued to resident households in September, up from €168.8 million in September 2021. The average interest rate on housing loans increased from 2.1 to 3.1 on year.
Meanwhile, the average interest rate on long-term loans issued to non-financial companies, which is very volatile and depends on the projects being financed and the amounts involved each month, reached 3.76 percent, up from 2.99 percent on month and 2.77 percent on year.
The average interest rate on leases issued to non-financial companies in September was 3.74 percent, the highest rate seen in the past 11 years.
The statistical release describes the main changes in the statistics on credit institutions and leasing companies, covering the volume and structure of assets, loans and leases issued, deposits, and interest rates on loans and leases.
The Bank of Estonia's statistical release is independent of economic policy releases and presented separately.
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Editor: Aili Vahtla