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Mortgage rates continue to fall
statistikk
2016-08-17T10:00:00.000Z
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
false
The interest rate on outstanding mortgages to households fell by 0.04 percentage points in June 2016, while the interest rate on new mortgages to households was stable. In the same period, banks’ loan margin on loans to households fell.

Interest rates in banks and mortgage companies, June 2016

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As from 23 September, all of Statistics Norway’s statistics will be released at 8 am.

Mortgage rates continue to fall

The interest rate on outstanding mortgages to households fell by 0.04 percentage points in June 2016, while the interest rate on new mortgages to households was stable. In the same period, banks’ loan margin on loans to households fell.

Banks and mortgage companies, interest rates to households1Published 17 August 2016
June 2016May 2016Monthly change
1Banks and mortgage companies in monthly sample
Interest rates, new loans
Total loans secured on dwellings to households2.372.370.00
Total loans secured on dwellings, floating interest rate2.372.370.00
Total loans secured on dwellings, fixed interest rate2.262.27-0.01
 
Interest rates, loans outstanding
Total loans secured on dwellings to households2.532.57-0.04
Total loans secured on dwellings, floating interest rate2.472.51-0.04
Total loans secured on dwellings, fixed interest rate3.163.18-0.02
 
Loan margins
Loan margins, new total loans secured on dwellings to households1.341.38-0.04
Loan margins, total outstanding loans secured on dwellings to households1.501.58-0.08

Source: Statistics Norway

In June 2016, the floating interest rate on households’ outstanding mortgages from a sample of banks and mortgage companies fell by 0.04 percentage points to 2.47 per cent, while the fixed-interest rate on outstanding mortgages fell by 0.02 percentage points to 3.16 per cent. In the same period, the fixed- interest rate and the floating rate on households’ new mortgages was almost stable at 2.26 and 2.37 per cent respectively. Since August 2014, the fixed-interest rate on new mortgages has been lower than the floating interest rate on new mortgages.

Lower interest rate margin on mortgages to households

In June 2016, the interest rate margin on new mortgages to households from a sample of banks and mortgage companies fell by 0.04 percentage points to 1.34, while the corresponding interest rate margin on outstanding loans fell by 0.08 percentage points to 1.50 per cent. NIBOR increased by 0.04 percentage points to 1.03 per cent.

Increased interest rates on loans to non-financial corporations

For new other repayment loans to non-financial corporations, the interest rates increased by 0.11 percentage points to 2.94, while the interest rate on outstanding loans was almost stable at 3.09 per cent in the same period.

Lower deposit rates

The interest rate on total deposits from households fell by 0.07 to 0.72, while the interest rate on deposits from non-financial corporations was stable at 0.68 per cent in June 2016.

Lower interest rate for state lending institutions (complete census)

The interest rate from state lending institutions fell by 0.05 percentage points to 1.85 per cent from March 2016 to June 2016, while the interest rate on loans from State Pension Fund was stable at 2.30 per cent. The interest rate on loans from banks, mortgage companies and state lending institutions, and the interest rate on deposits are historically low.

Decreased share of fixed-interest loans (complete census)

The share of fixed-interest rate loans secured on dwellings to households from banks and mortgage companies fell from March 2016 to June 2016; from 8.6 per cent to 8.3 per cent.