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4871
Steady share of fixed interest
statistikk
2010-05-26T10:00:00.000Z
Banking and financial markets
en
orbofur, Loans with fixed interest rates from banks and other financial corporations, lending, fixed-rate loan, fixed-rate periodFinancial institutions and other financial corporations, Banking and financial markets
false

Loans with fixed interest rates from banks and other financial corporations, Q1 2010

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Steady share of fixed interest

The share of fixed interest rate loans to Norwegian employees remained almost unchanged in the 1st quarter of 2010. The share increased in mortgage companies and banks, and fell in state lending institutions.

The share of loans with fixed interest from financial corporations to Norwegian employees increased in the first three quarters of 2009, but fell in the 4th quarter of 2009 and the 1st quarter of 2010. The share was 7.3 per cent at the end of the 1st quarter 2010. Households include, among other sectors, employees. The share of loans with fixed interest from financial corporations to Norwegian households decreased by 0.1 percentage point to 9.7 per cent in the 1st quarter 2010. This indicates that the share of fixed interest is higher among self employed persons and other unincorporated enterprises than among employees.

Banks, mortgage companies and state lending institutions. Share of fixed interest rate loans to Norwegian employees. Q1 2004-Q1 2010

Decreased share of fixed interest in state lending institutions

From the 4th quarter of 2008 to the 4th quarter of 2009 the share of fixed interest loans to employees increased from 16.7 to 22.5 per cent in state lending institutions. In the 1st quarter of 2010 the same share decreased by 1.5 percentage points, to 21 per cent. The share of fixed interest loans from banks and mortgage companies increased to 7.0 and 5.0 per cent respectively in the same period. Because of the decreased share in state lending institutions and the increased share in banks and mortgage companies, the total share of fixed interest loans to employees remained stable during this period.

In this period, the increase in the share of fixed interest in mortgage companies is mainly due to portfolio changes. The allocation of loans from banks to mortgage companies could make it necessary to analyse the share of fixed interest from these institutions as one. The share of fixed interest from banks and mortgage companies, together, increased from 6.1 to 6.2 per cent in the last quarter.

Loans with fixed interest rate from banks, mortgage companies and state lending institutions to employees by fixed interest period. Q1 2004-Q1 2010. Per cent of total loans
Quarter Banks Mortgage companies State lending institutions Total
Less than 1 year 1 to 5 years More than 5 years Total Less than 1 year 1 to 5 years More than 5 years Total Less than 1 year 1 to 5 years More than 5 years Total Less than 1 year 1 to 5 years More than 5 years Total
31.03.2004 1.80    9.16 0.58    11.5 4.83    21.30 1.39    27.5 3.61    37.79 0.00    41.4 2.12    13.20 0.53    15.9
30.06.2004 1.43 8.82 0.58 10.8 4.04 19.49 1.17 24.7 4.14 35.14 0.00 39.3 1.85 12.41 0.52 14.8
30.09.2004 1.28 8.05 0.50 9.8 3.77 18.76 1.05 23.6 5.57 34.71 0.00 40.3 1.87 11.59 0.46 13.9
31.12.2004 1.46 7.40 0.47 9.3 5.69 12.46 3.59 21.7 4.51 32.84 0.00 37.3 1.95 10.54 0.52 13.0
31.03.2005 1.95 7.05 0.55 9.5 6.84 12.09 3.65 22.6 10.80 24.17 0.00 35.0 3.13 9.19 0.58 12.9
30.06.2005 2.78 5.68 0.50 9.0 4.11 10.54 4.45 19.1 11.80 22.98 0.00 34.8 3.82 7.75 0.58 12.1
30.09.2005 3.27 4.62 0.51 8.4 3.20 6.87 3.35 13.4 11.38 21.06 0.00 32.4 4.13 6.45 0.55 11.1
31.12.2005 2.98 4.23 0.60 7.8 7.91 9.06 2.28 19.2 10.56 21.31 0.00 31.9 3.85 6.08 0.57 10.5
31.03.2006 2.30 4.02 0.53 6.9 7.85 8.19 1.95 18.0 10.16 18.40 0.00 28.6 3.22 5.60 0.50 9.3
30.06.2006 1.56 3.75 0.55 5.9 3.56 8.26 1.96 13.8 3.55 18.14 0.00 21.7 1.80 5.27 0.52 7.6
30.09.2006 1.30 3.49 0.55 5.3 1.69 4.34 1.14 7.2 3.06 17.52 0.00 20.6 1.49 4.88 0.51 6.9
31.12.2006 1.39 2.97 0.65 5.0 1.33 4.56 1.25 7.1 2.50 16.34 0.00 18.8 1.49 4.29 0.60 6.4
31.03.2007 1.43 2.93 0.74 5.1 0.74 2.63 0.92 4.3 1.39 21.98 0.00 23.4 1.40 4.61 0.68 6.7
30.06.2007 1.40 2.68 0.77 4.8 1.13 2.00 0.91 4.0 1.47 21.75 0.00 23.2 1.39 4.28 0.71 6.4
30.09.2007 1.44 2.53 0.73 4.7 1.18 1.60 0.88 3.7 2.76 19.87 0.00 22.6 1.54 3.92 0.68 6.1
31.12.2007 1.33 2.64 0.72 4.7 0.82 1.08 0.59 2.5 6.96 14.70 0.00 21.7 1.75 3.50 0.65 5.9
31.03.2008 1.10 2.61 0.71 4.4 0.62 0.83 0.46 1.9 7.07 14.01 0.01 21.1 1.54 3.38 0.63 5.5
30.06.2008 0.93 2.71 0.71 4.4 0.32 0.80 0.33 1.5 7.89 12.94 0.04 20.9 1.41 3.30 0.61 5.3
30.09.2008 0.79 2.88 0.73 4.4 0.22 0.78 0.32 1.3 6.47 13.47 0.08 20.0 1.15 3.37 0.61 5.1
31.12.2008 0.94 2.69 0.60 4.2 0.40 1.35 0.57 2.3 3.61 13.01 0.10 16.7 1.05 3.24 0.56 4.8
31.03.2009 1.24 4.38 0.72 6.3 0.34 3.16 0.69 4.2 3.27 13.41 0.10 16.8 1.20 4.82 0.66 6.7
30.06.2009 1.42 4.57 0.70 6.7 0.31 3.40 0.77 4.5 3.21 17.02 0.16 20.4 1.27 5.24 0.68 7.2
30.09.2009 1.41 4.79 0.72 6.9 0.29 3.56 0.72 4.6 2.32 19.68 0.19 22.2 1.16 5.58 0.68 7.4
31.12.2009 1.37 4.76 0.72 6.9 0.26 3.64 0.73 4.6 2.89 19.40 0.21 22.5 1.15 5.56 0.69 7.4
31.03.2010 1.91 4.38 0.67 7.0 0.23 4.06 0.73 5.0 2.08 18.72 0.22 21.0 1.31 5.37 0.66 7.3

Fixed interest loans in Norway

Fixed interest rate loans give predictability for interest costs, and can be regarded as an insurance against increasing interest rates. There are several possible reasons for the traditionally low share of loans with fixed interest in Norway. Among other factors, it could be that borrowers consider fixed interest more of a speculation than insurance. Another reason could be that the Central bank’s projections for the key policy interest rate are clearly communicated to the market.

Sector

Pensioners, social security recipients and students are included in the sector employees.