Wednesday, 30 April 2008
Finnish Housing Market Peak Reached
"The stock of housing loans extended to households by MFIs amounted to EUR 63.5 billion at the end of March, with an average interest rate of 5.00%."
"The annual growth rate of the housing loan stock declined to 11.9%, down from 12.2% in February. "
"The annual growth rate of the corporate loan stock has risen clearly in recent months, accelerating to 16.1% in March, compared with 13.5% in February and 11.8% in January. "
According to the Bank of Finland, there is a clear deceleration on the housing loan front but a clear overheating on the business side, a clear sign of the end of a cycle.