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84834
Increasing growth rate in housing loans
statistikk
2012-07-13T10:00:00.000Z
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 2012

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

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Increasing growth rate in housing loans

Over the past year, from end-May 2011 to end-May 2012, loans secured on dwellings from banks and mortgage companies to employees grew by 9.7 per cent. This is the highest twelve-month growth since September 2008.

Banks and mortgage companies. Total loans secured on dwellings to employees and twelve-month growth. January 2007-May 2012

Total loans from Norwegian banks and mortgage companies to Norwegian employees amounted to NOK 1 663 billion at end-May 2012. This is an increase of NOK 147 billion from end-May 2011.

The twelve-month growth in total housing loans has increased in a regular manner during this period, up from 7.0 per cent to end-May 2011 to 9.7 per cent to end-May 2012.

Increased growth for repayment loans

Loans secured on dwellings can be divided into repayment loans and credit lines. Repayment loans from banks and mortgage companies to employees amounted to NOK 1 219 billion at the end of May 2012. This implies an increase of nearly NOK 125 billion, or 11.4 per cent, compared to end-May 2011.

Banks and mortgage companies. Loans secured on dwellings to employees. Share of credit lines. January 2007-May 2012

Banks and mortgage companies. Loans secured on dwellings to employees by type of loan. May 2009-May 2012. Twelve-month growth

Credit lines secured on dwellings from banks and mortgage companies amounted to NOK 444 billion at end-May 2012, up NOK 22 billion from end-May of the previous year. This implies a growth of 5.3 per cent over the past year. With the exception of September 2011, the twelve-month growth has been declining every month for the past year.

Since the end of 2008, the share of credit lines to employees has been fluctuating at around one quarter of total housing loans from banks and mortgage companies to employees.

Mortgage companies leading in housing loans

Loans secured on dwellings from mortgage companies to employees amounted to NOK 901 billion at end-May 2012. This is an increase of NOK 157 billion, or 21.1 per cent, compared to end-May 2011. The banks’ loans to employees amounted to NOK 761 billion at end-May 2012, down almost NOK 10 billion, or 1.3 per cent, from the same period last year.

Banks and mortgage companies. Loans secured on dwellings to employees. January 2007-May 2012

The mortgage companies’ loans to employees surpassed the banks’ housing loans during September 2011. As a result, the mortgage companies’ share of total housing loans exceeded the banks’ share in the past twelve-month period. Transfers of loan portfolios from banks to mortgage companies have contributed to this trend.

Institutional sector classification 2012

The institutional sector classification has been revised. New four-digit sector codes have been introduced and the definitions of some sectors in the classification have been changed. The revised sector classification will be implemented in the Norwegian statistical system over the next two years.

The sector definitions in financial corporations’ statistics were altered as from the 1st quarter of 2012. This may influence the time series due to sector movements. Some of the tables for these statistics will not be updated in this publishing due to the new sector classification.

Credit lines secured on dwellings

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. Fixed rates are not available for this type of loan. Only banks and mortgage companies offer this type of loan. Credit lines secured on dwellings were introduced in January 2006.

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