Content
Published:
A correction has been made to the figures since their release, and the figures in the statistics table 08115 was updated on Tuesday 24 February 10 pm.
The statistics is published for the last time for the period 4th quarter 2014. Quarterly fixed-interest rate statistics is available in Interest rates in banks and mortgage companies.
Continued decline in fixed interest share
The share of loans with a fixed-interest rate out of total loans from banks, mortgage companies and state lending institutions to employees continued to fall in the 4th quarter of 2014. The fall is due to a lower share of fixed-interest loans in state lending institutions.
| 4th quarter 2014 | 3rd quarter 2014 | 2nd quarter 2014 | 1st quarter 2014 | 4th quarter 2013 | |
|---|---|---|---|---|---|
| Total | |||||
| No fixed interest rate | 91.5 | 91.3 | 91.0 | 90.5 | 90.0 |
| Loans with a fixed interest rate | 8.5 | 8.8 | 9.0 | 9.4 | 10.0 |
| Less than 1 year | 1.7 | 2.0 | 1.9 | 1.8 | 1.7 |
| From 1 to 5 years | 5.2 | 5.1 | 5.4 | 5.9 | 6.4 |
| Over 5 years | 1.5 | 1.6 | 1.7 | 1.8 | 1.9 |
| Banks | |||||
| No fixed interest rate | 91.6 | 92.1 | 91.9 | 91.2 | 90.6 |
| Loans with a fixed interest rate | 8.4 | 7.9 | 8.1 | 8.8 | 9.4 |
| Less than 1 year | 2.1 | 1.9 | 1.9 | 1.9 | 1.8 |
| From 1 to 5 years | 5.2 | 4.7 | 4.9 | 5.4 | 6.1 |
| Over 5 years | 1.2 | 1.3 | 1.3 | 1.4 | 1.5 |
| Mortgage companies | |||||
| No fixed interest rate | 93.5 | 92.9 | 92.7 | 92.5 | 92.2 |
| Loans with a fixed interest rate | 6.5 | 7.1 | 7.3 | 7.5 | 7.8 |
| Less than 1 year | 1.3 | 1.7 | 1.6 | 1.4 | 1.2 |
| From 1 to 5 years | 4.0 | 4.1 | 4.3 | 4.8 | 5.1 |
| Over 5 years | 1.2 | 1.2 | 1.3 | 1.3 | 1.5 |
| State lending institutions | |||||
| No fixed interest rate | 78.9 | 76.4 | 75.0 | 73.7 | 72.1 |
| Loans with a fixed interest rate | 21.1 | 23.6 | 25.0 | 26.3 | 27.9 |
| Less than 1 year | 2.1 | 3.8 | 4.1 | 3.9 | 3.9 |
| From 1 to 5 years | 13.0 | 13.7 | 14.5 | 15.7 | 16.8 |
| Over 5 years | 6.0 | 6.1 | 6.4 | 6.7 | 7.1 |
The share of loans with a fixed-interest rate from banks, mortgage companies and state lending institutions out of total loans to Norwegian employees was 8.5 per cent at the end of the 4th quarter 2014. This is a decrease of 0.2 percentage points from the end of the 3rd quarter of 2014. The share of fixed-interest rate loans in state lending institutions fell from 23.6 to 21.1 per cent in the same period. For loans from banks and mortgage companies, the share was unchanged at 7.5 per cent.
The employees with fixed-interest rate loans mostly chose a longer fixed period. At the end of 2014, 79.6 per cent of the employee loans with a fixed-interest rate in banks, mortgage companies and state lending institutions had a remaining fixed-interest rate period of more than one year. In state lending institutions, 90.0 per cent of the fixed-interest rate loans had a remaining fixed period of more than one year, while in banks and mortgage companies the share was 77.3 per cent.
Lower share of fixed-interest rate loans to non-financial corporations
The share of fixed-interest rate loans out of total loans from banks, mortgage companies and state lending institution to non-financial corporations was 19.3 per cent at the end of 2014. In the last quarter of 2014, this share fell by 3 percentage points. Out of all loans with a fixed-interest rate, 83.6 per cent of the non-financial corporations’ loans had a remaining fixed-interest rate period of less than one year.
Transition to new fixed-interest rate statistics
This is the last publication of these fixed-interest rate statistics. However, information on loans with fixed-interest rates is available in Interest rates in banks and mortgage companies. Note that data on fixed-interest rates in the new statistics are not strictly comparable with these interest rate statistics. The new statistics include quarterly data on amounts and interest rates, with a breakdown by institutional sector, remaining fixed-interest rate period and type of loan.
Changes in fixed-interest rate statisticsOpen and readClose
From the 1st quarter of 2015, the fixed-interest rate statistics will only be available in the new interest rate statistics. Figures in the new statistics (table 10648 in Statbank) are not strictly comparable with the old fixed-interest rate statistics in table 08115. Table 08115 in Statbank will no longer be updated. An important difference between the two statistics is the definition of floating interest rate loans. In the new statistics, floating interest loans are defined as loans where the remaining fixed-interest rate period is less than 3 months, while in the old statistics this is defined as loans without any agreed fixed-interest rate period.
The statistics is now published as Interest rates in banks and mortgage companies.
Additional information
This statistics show loans broken down by the remaining fixed interest rate period. The fixed interest rate period is measured as the time from the end of the reported period to the next interest rate regulation. Differences between figures in the text and the tables due to rounding off may occur.
Contact
-
Statistics Norway's Information Centre
E-mail: informasjon@ssb.no
tel.: (+47) 21 09 46 42