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Share of fixed interest rate loans still rising
statistikk
2012-06-12T10:00:00.000Z
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 2012

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Share of fixed interest rate loans still rising

The share of fixed interest rate loans from financial corporations to Norwegian employees increased by 1.1 percentage points to 9.7 per cent in the 1st quarter of 2012. After an increase in the two previous quarters, this share reached its highest level since 2005.

Increased share of fixed interest rate loans to Norwegian employees in banks and mortgage companies

The share of loans with fixed interest from banks to Norwegian employees increased from 7.3 per cent at the end of the 4th quarter of 2011 to 8.6 per cent at the end of the first quarter of 2012. The share of fixed interest rate loans from mortgage companies to Norwegian employees increased from 6.0 per cent to 7.1 per cent in the same period.

From the 4th quarter of 2011 to the first quarter of 2012, the share of loans with a remaining fixed interest rate period of 1-5 years increased from 4.3 per to 5.8 cent in the banks, and from 3.7 to 5.3 per cent in mortgage companies.

Banks, mortgage companies and state lending institutions. Share of fixed interest rate loans to Norwegian employees. Q1 2004-Q1 2012

Lower growth in share of fixed interest loans in state lending institutions

The share of fixed interest rate loans from state lending institutions to employees increased by 0.8 percentage points to 33.8 per cent at the end of the 1st quarter of 2012.

Fixed interest loans to Norwegian employees from banks, mortgage companies and state lending institutions by fixed interest period. Share of total loans. Q1 2006-Q1 2012
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
  Per cent
2004                                
31 March 1.8       9.2 0.6       11.5 4.8       21.3 1.4       27.5 3.6       37.8 0.0       41.4 2.1       13.2 0.5       15.9
30 June 1.4 8.8 0.6 10.8 4.0 19.5 1.2 24.7 4.1 35.1 0.0 39.3 1.9 12.4 0.5 14.8
30 September 1.3 8.1 0.5 9.8 3.8 18.8 1.1 23.6 5.6 34.7 0.0 40.3 1.9 11.6 0.5 13.9
31 December 1.5 7.4 0.5 9.3 5.7 12.5 3.6 21.7 4.5 32.8 0.0 37.3 2.0 10.5 0.5 13.0
2005                                
31 March 2.0 7.1 0.6 9.5 6.8 12.1 3.7 22.6 10.8 24.2 0.0 35.0 3.1 9.2 0.6 12.9
30 June 2.8 5.7 0.5 9.0 4.1 10.5 4.5 19.1 11.8 23.0 0.0 34.8 3.8 7.8 0.6 12.1
30 September 3.3 4.6 0.5 8.4 3.2 6.9 3.4 13.4 11.4 21.1 0.0 32.4 4.1 6.5 0.6 11.1
31 December 3.0 4.2 0.6 7.8 7.9 9.1 2.3 19.2 10.6 21.3 0.0 31.9 3.9 6.1 0.6 10.5
2006                                
31 March 2.3 4.0 0.5 6.9 7.9 8.2 2.0 18.0 10.2 18.4 0.0 28.6 3.2 5.6 0.5 9.3
30 June 1.6 3.8 0.6 5.9 3.6 8.3 2.0 13.8 3.6 18.1 0.0 21.7 1.8 5.3 0.5 7.6
30 September 1.3 3.5 0.6 5.3 1.7 4.3 1.1 7.2 3.1 17.5 0.0 20.6 1.5 4.9 0.5 6.9
31 December 1.4 3.0 0.7 5.0 1.3 4.6 1.3 7.1 2.5 16.3 0.0 18.8 1.5 4.3 0.6 6.4
2007                                
31 March 1.4 2.9 0.7 5.1 0.7 2.6 0.9 4.3 1.4 22.0 0.0 23.4 1.4 4.6 0.7 6.7
30 June 1.4 2.7 0.8 4.8 1.1 2.0 0.9 4.0 1.5 21.8 0.0 23.2 1.4 4.3 0.7 6.4
30 September 1.4 2.5 0.7 4.7 1.2 1.6 0.9 3.7 2.8 19.9 0.0 22.6 1.5 3.9 0.7 6.1
31 December 1.3 2.6 0.7 4.7 0.8 1.1 0.6 2.5 7.0 14.7 0.0 21.7 1.8 3.5 0.7 5.9
2008                                
31 March 1.1 2.6 0.7 4.4 0.6 0.8 0.5 1.9 7.1 14.0 0.0 21.1 1.5 3.4 0.6 5.5
30 June 0.9 2.7 0.7 4.4 0.3 0.8 0.3 1.5 7.9 12.9 0.0 20.9 1.4 3.3 0.6 5.3
30 September 0.8 2.9 0.7 4.4 0.2 0.8 0.3 1.3 6.5 13.5 0.1 20.0 1.2 3.4 0.6 5.1
31 December 0.9 2.7 0.6 4.2 0.4 1.4 0.6 2.3 3.6 13.0 0.1 16.7 1.1 3.2 0.6 4.8
2009                                
31 March 1.2 4.4 0.7 6.3 0.3 3.2 0.7 4.2 3.3 13.4 0.1 16.8 1.2 4.8 0.7 6.6
30 June 1.4 4.6 0.7 6.6 0.3 3.4 0.8 4.5 3.2 17.0 0.2 20.4 1.2 5.2 0.7 7.1
30 September 1.3 4.8 0.7 6.8 0.3 3.6 0.7 4.6 2.3 19.7 0.2 22.2 1.1 5.6 0.7 7.4
31 December 1.3 4.8 0.7 6.8 0.3 3.6 0.7 4.6 2.9 19.4 0.2 22.5 1.1 5.6 0.7 7.3
2010                                
31 March 1.7 4.4 0.7 6.7 0.2 4.1 0.7 5.0 2.1 18.7 0.2 21.0 1.2 5.4 0.7 7.2
30 June 1.4 4.1 0.6 6.2 0.3 4.0 0.7 4.9 2.3 16.4 0.2 18.9 1.0 5.0 0.6 6.7
30 September 1.3 4.0 0.7 5.9 0.3 4.0 0.8 5.0 2.1 17.9 0.3 20.3 1.0 5.0 0.7 6.6
31 December 1.3 3.8 0.7 5.7 0.3 3.9 0.8 5.0 3.9 15.2 0.3 19.3 1.1 4.6 0.7 6.4
2011                                
31 March 2.1 2.9 0.7 5.7 1.2 2.7 0.8 4.7 6.0 12.7 0.3 19.0 2.0 3.5 0.7 6.3
30 June 2.1 2.7 0.7 5.5 1.2 2.5 0.7 4.4 7.3 10.6 0.3 18.2 2.1 3.2 0.7 5.9
30 September 2.1 2.8 0.8 5.7 1.3 2.4 0.8 4.4 7.3 12.4 0.3 20.0 2.1 3.3 0.7 6.2
31 December 1.9 4.3 1.2 7.3 1.1 3.7 1.2 6.0 6.8 22.7 3.5 33.0 1.9 5.4 1.3 8.6
2012                                
31 March 1.2 5.8 1.6 8.6 0.4 5.3 1.4 7.1 4.9 25.0 3.9 33.8 1.1 7.0 1.7 9.7

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. It may be that borrowers consider fixed interest more of a speculation than insurance. Another explanation for the low share of fixed interest may be that the Central bank’s projections for the key policy interest rate are clearly communicated.

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 sector classification in the fixed interest rate statistics was altered as from the 1st quarter of 2012. This may influence the time series for households and non-financial private companies, for example, due to sector movements, while this change should not have any impact on the data on Norwegian employees.