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Lower interest rates on deposits
statistikk
2016-02-15T10:00:00.000Z
Banking and financial markets
en
renter, Interest rates in banks and mortgage companies, interest rates, interest on loans, deposit rates, interest margins, banks, mortgage companies, state lending institutions, life insurance companies, Norwegian Public Service Pension FundFinancial institutions and other financial corporations, Banking and financial markets
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Interest rates in banks and mortgage companies, December 2015

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Lower interest rates on deposits

The interest rate on deposits fell by 0.16 percentage points in December 2015. The interest rate on new mortgages to households fell by 0.04 percentage points, while the interest rate on outstanding mortgages fell by 0.11 percentage points.

Banks and mortgage companies, interest rates to households1Published 15 February 2016
December 2015November 2015Monthly change
1Banks and mortgage companies in monthly sample
Interest rates, new loans
Total loans secured on dwellings to households2.532.57-0.04
Total loans secured on dwellings, floating interest rate2.542.57-0.03
Total loans secured on dwellings, fixed interest rate2.512.510.00
 
Interest rates, loans outstanding
Total loans secured on dwellings to households2.712.82-0.11
Total loans secured on dwellings, floating interest rate2.652.77-0.12
Total loans secured on dwellings, fixed interest rate3.283.29-0.01
 
Loan margins
Loan margins, new total loans secured on dwellings to households1.381.370.01
Loan margins, total outstanding loans secured on dwellings to households1.561.62-0.06

Source: Statistics Norway

Figure 1. Interest rates on new and outstanding loans secrued on dwellings to households. Monthly sample of banks and mortgage companies

In December 2015, the interest rate on total deposits from households and non-financial corporations fell by 0.16 per cent to 0.84 per cent. The interest rate from households fell by 0.21 percentage points to 0.85 per cent, while the interest rate on deposits from non-financial corporations fell by 0.07 percentage points to 0.81 per cent.

In December 2015, the floating interest rate on households’ new mortgages from a sample of banks and mortgage companies fell by 0.03 percentage points to 2.54 per cent, while the floating interest rate on outstanding mortgages fell by 0.12 percentage points to 2.65 per cent. In the same period, the fixed interest rate on new mortgages and on outstanding mortgages was virtually unchanged at 2.51 and 3.28 per cent respectively.

Lower interest rate margin on outstanding mortgages

The interest rate margin on new mortgages to households from a sample of banks and mortgage companies was virtually unchanged at 1.38 per cent in December 2015. The corresponding interest rate margin on outstanding loans fell by about 0.06 percentage points to 1.56 per cent. In the same period, NIBOR fell by 0.05 percentage points to 1.15 per cent.

Increase in interest rates on loans to non-financial corporations

For new other repayment loans to non-financial corporations, the interest rate increase by 0.13 percentage points to 2.83 per cent in December 2015. The corresponding interest rate on other outstanding repayment loans was virtually unchanged at 3.15 per cent.

Historical low interest rates (census)

The quarterly interest rate statistics show that the interest rate on total loans from banks and mortgage companies was 3.14 per cent at the end of December 2015. The deposit interest rate is also at a historical low, by 0.93 per cent at the end of December 2015.

Decreased share of fixed-interest loans (census)

The share of fixed-interest rate loans secured on dwellings to households from banks and mortgage companies fell from September 2015 to December 2015 for the first time since December 2014; from 10.2 per cent to 8.8 per cent.