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4455
Reduced growth in housing loans
statistikk
2010-09-09T10:00:00.000Z
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, July 2010

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

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Reduced growth in housing loans

The twelve-month growth in loans secured on dwellings to households was 6.0 per cent to end-July 2010, down from 6.9 per cent to end-July last year. In the same period, the twelve-month growth for credit lines secured on dwellings came down from 21.1 per cent to 14.4 per cent.

Loans secured on dwellings from Norwegian banks, mortgage companies and state lending institutions to households amounted to NOK 1 613 billion in July 2010, somewhat up from NOK 1 605 billion to the previous month. The twelve-month growth was 6.0 per cent in July this year, unchanged from the previous month. This is down from 6.9 per cent to end-July 2009 and 11.4 per cent to end-July 2008. Loans secured on dwellings accounted for 30.1 per cent of total assets from banks, mortgage companies and state lending institutions in July this year, up from 29.6 per cent in June and down from 30.3 per cent in July last year. This share was 33.8 per cent in July 2008.

Loans secured on dwellings as a share of total assets. Per cent.

Lower growth for credit lines secured on dwellings

Loans secured on dwellings are divided into repayment loans secured on dwellings and credit lines secured on dwellings. By end-July this year, credit lines from banks and mortgage companies amounted to NOK 388 billion, an increase of NOK 4 billion from the previous month. The twelve month growth for credit lines secured on dwellings has been high since the registration started in December 2005. However, the growth has decreased, and went down from 14.5 to 14.4 per cent from June to July this year.

Rising share of credit lines of total loans secured on dwellings

Repayment loans account for the biggest share of total loans secured on dwellings, and it amounted to NOK 1 226 billion by end- July 2010. The twelve-month growth was at the same time 3.6 per cent, unchanged from the previous month and up from 3.4 per cent to end-July last year. The twelve-month growth is higher for credit lines than for repayment loans, and the share of credit lines of total loans secured on dwellings is therefore increasing. This share was 24.0 to end-July 2010

Compared to total assets from banks, mortgage companies and state lending institutions, the share of credit lines has increased from 6.7 per cent in July 2009 to 7.2 per cent to end-July this year.

Loans secured on dwellings from banks, mortgage companies and state lending institutions to households. Twelve-month growth and share of loans secured on dwellings. Per cent
 
  Twelve-month growth Credit line shares
  Loans secured on dwellings Credit lines Repayment loans
 
July 2008 11.4 80.6 1.8 19.7
August 2008 10.9 76.4 1.4 20.1
September 2008 10.0 70.9 0.7 20.7
October 2008 9.2 64.6 0.2 21.1
November 2008 8.1 57.6 -0.4 21.4
December 2008 7.9 53.3 -0.3 21.7
January 2009 7.0 49.2 -0.9 21.9
February 2009 7.1 43.0 0.1 21.8
March 2009 7.3 37.3 1.1 21.8
April 2009 7.1 31.8 1.8 21.9
May 2009 6.9 27.7 2.2 22.1
June 2009 6.9 23.8 3.0 22.2
July 2009 6.9 21.1 3.4 22.3
August 2009 6.8 18.9 3.7 22.4
September 2009 6.7 16.7 4.1 22.6
October 2009 7.0 15.5 4.8 22.8
November 2009 7.2 14.8 5.2 22.9
December 2009 7.1 14.0 5.2 23.1
January 2010 7.4 13.6 5.7 23.2
February 2010 6.8 14.0 4.8 23.3
March 2010 6.4 14.7 4.1 23.5
April 2010 6.2 14.7 3.7 23.7
May 2010 6.2 14.8 3.8 23.8
June 2010 6.0 14.5 3.6 23.9
July 2010 6.0 14.4 3.6 24.0
 

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 restricions on how or what the credit is used for. Interest is only paid for the amount of credit the customer has used at the given time. Only banks and mortgage companies are offering this type of loans.

Households are defined as quasi-corporate private enterprises (e.g. partnerships), private non-profit institutions serving households, unincorporated private enterprises, employees, pensioners, social secured recipients, students etc. and unspecified sector.

 

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