Ford driver Latvala opened a 16.8sec lead over Mikko Hirvonen the Finnish Citroen driver who has won the last two editions.
But eight-time world champion, and current series leader, Loeb, whose one and only win in Sweden came in 2004, lost two minutes on the seventh stage when he buried his Citroen in a snow bank.
The Frenchman surged back from 11th to seventh by the end of the day, but he is 2min 08.9sec off the lead.
"It's very tricky," said Loeb, who needed the help of supporters to push his car back on to the course.
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