1 in 5 young people consider fixed interest

Money fixed interestNorwegian bank notes, Photo: Norway Today Media

1 out of 5 young people consider taking fixed interest rates

In fear of a sharp rise in interest rates, many young borrowers are considering binding interest rates according to a survey.

 

The survey, conducted by Norstat on behalf of Bank2, shows that 13% of respondents consider binding interest rates wrote Dagens Næringsliv (DN) newspaper.

In the 25 to 39 age group, there are many who are considering fixed interest rates.19%, almost 1 out of 5, responded in the survey that they are considering binding interest rates. In the same age group, 32% answered that they fear repayment if the interest rate rises by 3%.

Several banks have talked with DN about increases in fixed interest rates. Press manager at Danske Bank, Øystein Andre Schmidt, said the bank has had over four times the largest subscription of fixed interest loans in the past couple of months compared with the same period last year.

In September, Norges Bank raised its key interest rate for the first time in seven years from 0.50 to 0.75%. The central
bank forecast is that the key rate will gradually rise to 2% by the end of 2021, which will mean mortgage rates at just under 4% in 2021.

 

© NTB scanpix / #Norway Today

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