84852_not-searchable
/en/bank-og-finansmarked/statistikker/orbofur/kvartal
84852
Lower growth in fixed interest rate loans
statistikk
2012-08-29T10:00:00.000Z
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 2012

Content

Published:

This is an archived release.

Go to latest release

Lower growth in fixed interest rate loans

From the first to the second quarter of 2012 the share of fixed interest rate loans from banks and mortgage companies to Norwegian employees increased, while the share of fixed interest rate loans from state lending institutions fell. In total, this share was almost stable at 9.8 per cent.

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 8.6 per cent at the end of the 1st quarter of 2012 to 8.9 per cent at the end of the second quarter of 2012. The share of fixed interest rate loans from mortgage companies to Norwegian employees increased from 7.1 per cent to 7.2 per cent in the same period.

In banks, the share of loans with a remaining fixed interest rate period of less than 1 year increased, while the share of loans with a remaining fixed interest rate period of more than 1 year declined. In mortgage companies, the share of loans with a remaining fixed interest rate period was stable for all intervals.

Banks, mortgage companies and state lending institutions. Share of fixed interest rate loans to Norwegian employees. Q1 2004-Q2 2012

Decline in share of fixed interest loans in state lending institutions

From the first to the second quarter of 2012 the share of fixed interest rate loans from state lending institutions to employees fell by 2.0 percentage points to 31.8 per cent. In total, the share of fixed interest rate loans from banks, mortgage companies and state lending institutions was almost stable at 9.8 per cent after an increase of 1.1 percentage points from the end of December 2011 to the first 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-Q2 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                                
Q 1 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
Q 2 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
Q 3 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
Q 4 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                                
Q 1 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
Q 2 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
Q 3 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
Q 4 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                                
Q 1 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
Q 2 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
Q 3 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
Q 4 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                                
Q 1 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
Q 2 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
Q 3 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
Q 4 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                                
Q 1 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
Q 2 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
Q 3 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
Q 4 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                                
Q 1 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
Q 2 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
Q 3 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
Q 4 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                                
Q 1 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
Q 2 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
Q 3 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
Q 4 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                                
Q 1 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
Q 2 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
Q 3 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
Q 4 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                                
Q 1 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
Q 2 2.8 4.9 1.2 8.9 0.4 5.4 1.5 7.2 3.6 24.3 3.9 31.8 1.7 6.5 1.5 9.8

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.