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Lower interest rates

Norwegian kroner State BudgetNorwegian kroner. Photo: pixabay.com

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The interest rate on new mortgage loans fell by 0.03 percentage points, while the interest rate on outstanding mortgage loans was almost unchanged.

The interest rate margin on mortgages continues to fall.

In August 2016, the floating rate on households’ new mortgages from a sample of banks and mortgage companies fell by 0.03 percentage points to 2.35 per cent.

The fixed-interest rate on new mortgage loans increased by 0.06 percentage points to 2.32 per cent.

The fixed-interest rate on outstanding mortgages fell by 0.02 percentage points to 3.10 per cent, while the floating interest rate on households’ outstanding mortgages was stable at 2.46 per cent.

Lower interest rate margin on mortgages to households
In August 2016, the interest rate margin on new mortgages to households from a sample of banks and mortgage companies fell by 0.05 percentage points to 1.26, while the corresponding interest rate margin on outstanding loans fell by 0.03 percentage points to 1.42 per cent.

This is the lowest level for interest rate margins on mortgage loans since the first publication of monthly data in December 2013. NIBOR increased by 0.02 percentage points to 1.09 per cent.

Interest rates on loans to non-financial corporations
For new other repayment loans to non-financial corporations, the interest rates fell by 0.04 percentage points to 2.73, while the interest rate on outstanding loans has increased by 0.04 percentage points to 3.13 per cent.

Deposit rates
The interest rate on total deposits from households was stable at 0.73 per cent, while the interest rate on deposits from non-financial corporations increased by 0.03 per cent to 0.70 per cent in August 2016.

 

Source: SSB / Norway Today

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