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66096
Continued growth in housing loans
statistikk
2012-03-09T10:00:00.000Z
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, January 2012

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

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Continued growth in housing loans

The 12-month growth in loans secured on dwellings from Norwegian banks and mortgage companies to households was 8.4 per cent at the end of January 2012. This is the highest twelve-month growth since November 2008.

Total loans from Norwegian banks and mortgage companies to Norwegian households amounted to NOK 1 982 billion at end -January 2012. Loans secured on dwellings represent 86.6 per cent of these total loans. At end-January, loans secured on dwellings amounted to NOK 1 716 billion, an increase of NOK 133 billion, or 8.4 per cent, from the corresponding period last year.

Declining, but still highest growth rate in credit lines

Loans secured on dwellings can be divided into repayment loans and credit lines. Credit lines secured on dwellings from mortgage companies and banks to households amounted to NOK 454 billion at end-January. This is an increase of NOK 41 billion, or 9.7 per cent, compared to the corresponding period last year.

Repayment loans secured on dwellings have increased from NOK 1 170 billion in January 2011 to NOK 1 262 billion January this year. The twelve-month growth of 7.9 per cent is the highest growth rate observed since June 2007.

The percentage growth rate is still highest for credit lines secured on dwellings compared to repayment loans, but the twelve-month growth of 9.7 per cent is nevertheless the lowest rate ever measured for credit lines.

Banks and mortgage companies. Loans secured on dwellings to households. January 2006-January 2012. NOK million

Banks and mortgage companies. Twelve-month growth. Loan types secured on dwellings to households. January 2009-January 2012

Increasing growth in mortgage companies

Loans secured on dwellings from mortgage companies to households amounted to NOK 880 billion at the end of January 2012. This is an increase of NOK 154 billion, or 21.3 per cent, compared to January last year. The twelve-month growth has been rising in recent months, and this is the highest growth since January 2011 when it was 37.1 per cent.

Loans secured on dwellings from banks to households amounted to NOK 836 billion at the end of January. This is a decrease of about NOK 22 billion, or - 2.5 per cent, compared to January last year. Loans secured on dwellings from banks have decreased since September 2008, but the reduction has been at the same low level, - 2.5 per cent, the past three months.

Largest share of loans secured on dwellings from mortgage companies

In recent years, loans secured on dwellings from mortgage companies to households have gradually increased compared to loans from banks. At end-January, the share of loans from mortgage companies was 51.3 per cent of the total loans secured on dwellings to households. Portfolio movements from banks to mortgage companies, which are a result of the introduction of covered bonds, may be a major reason for the rise of loans from mortgage companies and the decrease of such housing loans from banks.

At end-January this year, credit lines secured on dwellings from mortgage companies constituted 56.7 per cent of total credit lines. This amounted to NOK 257 billion. Mortgage companies’ share of credit lines has exceeded the banks’ share of credit lines since February 2010. For repayment loans secured on dwellings to households however, banks barely constituted the largest part of these loans, a share of 50.7 per cent in January this year.

Banks and mortgage companies. Loans secured on dwellings to households. January 2011-January 2012. NOK million
  Credit lines
secured on dwellings
to households 		12-month growth.
Credit lines
secured on dwellings
to households 		Repayment loans
secured on dwellings
to households 		12-month growth.
Repayment loans
secured on dwellings
to households 		Total loans
secured on dwellings
to households 		12-month growth.
Total loans
secured on dwellings
to households
  NOK million Per cent NOK million Per cent NOK million Per cent
2011            
January  413 428 14.1 1 169 496 4.2 1 582 925 6.6
February  416 270 13.8 1 173 947 4.4 1 590 217 6.7
March  421 144 13.8 1 176 673 4.4 1 597 817 6.7
April  425 792 13.8 1 179 441 4.4 1 605 233 6.7
May  433 304 14.1 1 184 489 4.4 1 617 793 6.9
June  436 476 13.6 1 198 119 4.8 1 634 595 7.0
July  439 707 13.4 1 204 549 5.0 1 644 255 7.1
August  442 066 12.9 1 208 885 5.1 1 650 951 7.1
September  448 283 13.0 1 220 504 5.7 1 668 787 7.6
October  449 001 11.8 1 229 000 6.0 1 678 002 7.5
November  452 150 11.1 1 244 683 6.9 1 696 834 8.0
December  453 633 10.4 1 254 015 7.4 1 707 648 8.2
2012            
January  453 461 9.7 1 262 082 7.9 1 715 543 8.4

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 credit the customer has used at the given time.

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

Covered bonds are bonds conferring a preferential claim over a cover pool consisting of public sector loans and loans secured on residential property or other real property. Only mortgage companies with special authorisation are allowed to issue covered bonds in Norway.