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4869
Lower share of fixed interest rates
statistikk
2010-08-26T10:00:00.000Z
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, Q2 2010

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Lower share of fixed interest rates

The share of fixed interest rate loans to Norwegian employees from financial corporations fell in the 2nd quarter of 2010. The share fell in banks and in state lending institutions, and only marginally in mortgage companies.

The share of loans with fixed interest from financial corporations to Norwegian employees fell in the second quarter of 2010 by 0.05 percentage points to 6.7 per cent, and by 0.04 percentage points to 9.2 per cent respectively in households.

Banks, mortgage companies and state lending institutions. Share of fixed interest rate loans to Norwegian employees. Q2 2004-Q2 2010

Banks. Share of fixed interest rate on loans to employees. Q2 2008-Q2 2010

Banks. Share of fixed interest rate on loans to non-financial corporations. Q2 2008-Q2 2010

Lower share of fixed interest in banks and increased share in state lending institutions

The share of fixed interest loans to employees from banks fell by 0.4 percentage points to 6.3 per cent and by 2.1 percentage points in state lending institutions to 18.9 per cent in the second quarter of 2010. In mortgage companies the share of fixed interest loans to employees fell slightly by 0.01 percentage points to 4.9 per cent.

Shorter period of interest rate fixation

The share of loans with a remaining interest rate fixed term less than or equal to one year has increased since the outbreak of the financial crisis at the end of 2008. This share now seems to have stabilised at a somewhat higher level. One explanation for the increase in loans with a shorter interest rate fixed term may be increased uncertainty about the future interest rate level. Some of the changes at the end of 2008 are also explained by changes in portfolio and changes in reporting practice.

Fixed interest loans from banks, mortgage companies and state lending institutions to employees by fixed interest period. Q2 2004Q2 2010
Quarter Banks Mortgage companies state lending institutions Mean
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
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 1.34 4.79 0.72 6.8 0.29 3.56 0.72 4.6 2.32 19.68 0.19 22.2 1.11 5.58 0.68 7.4
31.12.2009 1.27 4.76 0.72 6.8 0.26 3.64 0.73 4.6 2.89 19.39 0.21 22.5 1.09 5.55 0.69 7.3
31.03.2010 1.69 4.38 0.67 6.7 0.23 4.06 0.73 5.0 2.08 18.72 0.22 21.0 1.19 5.37 0.66 7.2
30.06.2010 1.52 4.13 0.64 6.3 0.25 3.96 0.74 4.9 2.29 16.41 0.22 18.9 1.10 4.99 0.64 6.7

Fixed interest on 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 .