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Mortgage applications hit record high in December

The average interest rate on new loans fell to 0.69 percent.
Mortgage repayment periods continued to lengthen during 2020.
Image: Markku Ulander / Lehtikuva
An exceptionally high number of mortgages were approved at the end of last year, according to the Bank of Finland.
In December, loans were drawn down for a total amount of 1.9 billion euros, which was 460 million euros more than in December of the previous year and represents the largest number ever recorded for the month, the Bank said in a statement issued Monday.
At the same time, the average interest rate on new loans fell to a record low of 0.69 percent. ....

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