France Housing Loans Outstanding: Monthly Household Mortgage Stock Since 2011

This dataset tracks the total stock of housing loans held by French resident households, as reported by the Banque de France in its BSI1 balance-sheet statistics, monthly from September 2011 across 176 observations. It is a stock, not a flow: it measures how much mortgage debt exists at the end of each month, not how much was lent during it. The series grew without interruption for more than a decade, peaked at EUR 1,314,917 million in March 2023, and has since fallen back to EUR 1,265,960 million, EUR 49 billion or 3.7% below that peak.

Dataset: France Housing Loans Outstanding (2011–2026) · Updated 2026-07-01

Source: Banque de France, Webstat BSI1 · housing loans to resident households, outstanding amounts

Macro Takeaway

Dataset Overview

Dataset Variables

The CSV, Excel and JSON files contain the following columns.

Column names match the CSV headers exactly. The unit is millions of euros, so a reading of 1,265,960 is EUR 1,266 billion.

Download the Complete Dataset

The full France housing loans outstanding dataset is available in CSV and Excel formats.

Direct CSV Access – Eco3min Structured Dataset

https://eco3min.fr/dataset/fr/fr-housing-loans-outstanding.csv

This URL returns the complete dataset in CSV format. It can be used directly in pandas, R, curl, or any data tool. The upstream series is published by the Banque de France through Webstat, in the BSI1 dataset of monetary financial institution balance sheets.

Using the Dataset in Python

import pandas as pd

url = "https://eco3min.fr/dataset/fr/fr-housing-loans-outstanding.csv"
df = pd.read_csv(url, parse_dates=["date"])

print(df.tail())
print((df["housing_loans_outstanding"] / 1000).describe())  # en milliards

Using the Dataset in R

library(readr)

url <- "https://eco3min.fr/dataset/fr/fr-housing-loans-outstanding.csv"
df <- read_csv(url)

tail(df)
summary(df$housing_loans_outstanding / 1000)

Both examples load the dataset directly from the URL, with no download or API key required. Dividing by 1,000 converts the series to billions of euros.

Methodology

The Banque de France compiles the BSI1 statistics from the balance sheets reported monthly by French monetary financial institutions, as the national contribution to the harmonised euro-area balance-sheet-items framework. This line reports housing loans granted by credit institutions to resident households, measured as outstanding amounts at the end of the reference month and expressed in millions of euros.

The Eco3min pipeline pulls the series through DBnomics, which mirrors Banque de France Webstat, and writes the CSV, Excel and JSON files. The full history is regenerated on each run rather than appended, so an upstream revision propagates automatically.

Data Quality & Provider Notes

The unit is millions, and it is the most common reading error on this series. A value of 1,265,960 means EUR 1,265,960 million, that is EUR 1.27 trillion. Charting it alongside a series denominated in billions without rescaling produces a difference of three orders of magnitude.

A stock is not a flow. A flat or falling stock does not mean lending has stopped. It means gross new lending is no longer exceeding repayments on the existing book. Separating the two requires the production series, which is published separately.

Breaks and reclassifications. Balance-sheet statistics are occasionally affected by reclassifications when institutions change reporting perimeter or when loans are securitised off balance sheet. The Banque de France flags such breaks in its own documentation; a month-on-month jump with no macroeconomic counterpart is worth checking against that documentation before being interpreted.

Latency and revisions. BSI1 publishes with roughly a two-month lag. Revisions replace history rather than accumulating beside it, since the pipeline rebuilds the whole file on each run.

Licence. Banque de France Webstat data is published under the Licence Ouverte 2.0 (Etalab), which permits reuse including commercial reuse, subject to attribution of the source.

Historical Regimes

2011–2015 – Slow accumulation. The series opens at its minimum of EUR 806,005 million in September 2011 and averages EUR 809bn that year. Growth is steady but unspectacular through the euro-area sovereign crisis and its aftermath, reaching an annual average of EUR 867bn in 2015.

2016–2019 – The falling-rate build-up. Annual averages climb from EUR 897bn to EUR 1,061bn. The stock crosses the symbolic trillion-euro mark in 2018, on the back of mortgage rates that were themselves setting record lows.

2020–2022 – Acceleration through the pandemic. Averages reach EUR 1,130bn in 2020, EUR 1,212bn in 2021 and EUR 1,284bn in 2022. Household mortgage debt expanded fastest precisely when policy rates were at their most negative.

March 2023 – The peak. The stock tops out at EUR 1,314,917 million, the highest value in the file, with the 2023 annual average at EUR 1,299bn.

2024–2026 – Contraction. Annual averages fall to EUR 1,273bn, then EUR 1,268bn, then EUR 1,266bn. The April 2026 reading of EUR 1,265,960 million sits EUR 49 billion below the March 2023 peak, a 3.7% decline, and there is no comparable episode earlier in the series.

Related Macroeconomic Datasets

A credit stock reads against its own flow, its growth rate, and the price of the credit that feeds it.

Macroeconomic Dataset Hub

This dataset is part of the Eco3min macro-financial data repository.

Explore the Eco3min Dataset Hub

Sources

• Banque de France – Webstat, BSI1 balance-sheet statistics, housing loans to resident households, outstanding amounts, series M.FR.N.A.A22.A.1.U6.2251.Z01.E
• Licence Ouverte 2.0 (Etalab), reuse permitted with attribution to the source
• Eco3min Research – structured dataset compilation

Dataset Reference

Eco3min Research. (2026). France Housing Loans Outstanding, Monthly Data (2011–2026).<br> https://eco3min.fr/en/france-housing-loans-outstanding-dataset/