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4483
Decreasing growth in loans secured on dwellings
statistikk
2009-07-03T10:00:00.000Z
Banking and financial markets
en
orbofbm, Financial corporations, balance sheet, banks, mortgage companies, finance companies, state lending institutions, loans, deposits, financing, mortgages, bonds, commercial papers, shares, ownership interest, assets, liabilities, foreign banks, borrowers, balancesFinancial institutions and other financial corporations, Banking and financial markets
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Financial corporations, balance sheet, May 2009

As from 2016 the statistics is published with Banks and mortgage companies.

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Decreasing growth in loans secured on dwellings

The twelve-month growth in loans secured on dwellings from banks and mortgage companies to households kept decreasing in May. This is the lowest growth since July 1994. For the state lending institutions, the twelve-month growth has increased.

Loans secured on dwellings to households

12-month growth in loans secured on dwellings

The aggregated loans secured on dwellings from banks and mortgage companies to households amounted to about NOK 1 421 billion at end-May. This equals an increase of NOK 8.8 billion since end-April. The twelve-month growth in these loans in May 2009 was only 7 per cent; down from 7.3 per cent last month. By comparison, the twelve-month growth was 13.3 per cent in May 2008 and 17.5 per cent in May 2004.

The growth in loans from state lending institutions increased

The twelve-month growth in loans secured on dwellings from state lending institutions to households has increased by 3.2 percentage points since May last year and 9.8 percentage points since May 2004. This development differs from the growth in banks and mortgage companies for the same period. In May this year the twelve-month growth was 4.4 per cent, the same as last month. The latest correspondingly high twelve-month growth was in February 2003. Repayment loans secured on dwellings from the state lending institutions amounted to NOK 79.3 billion by end-May this year, and the loans increased by NOK 429 billion compared to April. State lending institutions do not offer credit lines secured with dwellings, only repayment loans.

The share of credit lines secured on dwellings is stable for households

Loans secured on dwellings are divided into repayment loans secured on dwellings and credit lines secured on dwellings. By end-May this year, loans secured on dwellings amounted to 82.2 per cent of aggregated loans (utilised) from banks, mortgage companies and state lending institutions to households. Repayment loans secured on dwellings accounted for 64 per cent of total loans (utilised) for households by end-May this year. This share has decreased by 2.7 percentage points since May last year. From May 2008 to May this year, the share of credit lines increased by 3 percentage points up to 18.1 per cent. By end-January 2009 this share was 17.9 per cent. This means that the share of credit lines of total loans (utilised) for households has increased only 0.2 percentage points for the last four months.

Credit lines secured on dwellings are loans secured on dwellings where a certain credit ceiling is issued, usually within 60-80 per cent of the value of the dwelling in which the loan is secured. There are no restrictions on how or what the credit is used for. Interest is only paid for the amount of the credit that the customer has used at the given time.

Due to the new NACE standard from 1 May 2009, the tables will not display relevant amounts for loans and deposits distributed by industry. It is not clear when or how the new standard will be presented in the tables.