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This is an archived release.
Fixed-interest loans continue to fall
The share of loans with a fixed interest rate out of all loans from banks, mortgage companies and state lending institutions to employees fell by 0.5 percentage points in the 1st quarter of 2014. This is the fourth successive quarter with a decline in the share of fixed interest loans.
| 1st quarter 2014 | 4th quarter 2013 | 3rd quarter 2013 | 2nd quarter 2013 | 1st quarter 2013 | |
|---|---|---|---|---|---|
| Total | |||||
| No fixed interest rate | 90.5 | 90.0 | 89.5 | 89.3 | 89.0 |
| Loans with a fixed interest rate | 9.5 | 10.0 | 10.5 | 10.7 | 11.0 |
| Less than 1 year | 1.8 | 1.8 | 1.5 | 1.8 | 1.9 |
| From 1 to 5 years | 6.0 | 6.4 | 7.1 | 7.2 | 7.4 |
| Over 5 years | 1.6 | 1.8 | 1.8 | 1.7 | 1.7 |
| Banks | |||||
| No fixed interest rate | 91.2 | 90.6 | 90.2 | 89.9 | 89.4 |
| Loans with a fixed interest rate | 8.8 | 9.4 | 9.8 | 10.1 | 10.6 |
| Less than 1 year | 3.1 | 3.1 | 2.9 | 2.8 | 3.0 |
| From 1 to 5 years | 4.5 | 5.2 | 5.7 | 6.0 | 6.2 |
| Over 5 years | 1.1 | 1.2 | 1.2 | 1.3 | 1.3 |
| Mortgage companies | |||||
| No fixed interest rate | 92.5 | 92.2 | 91.7 | 91.8 | 91.7 |
| Loans with a fixed interest rate | 7.5 | 7.8 | 8.3 | 8.2 | 8.3 |
| Less than 1 year | 0.2 | 0.2 | 0.2 | 0.7 | 0.7 |
| From 1 to 5 years | 5.9 | 6.0 | 6.6 | 6.0 | 6.1 |
| Over 5 years | 1.3 | 1.5 | 1.5 | 1.6 | 1.6 |
| State lending institutions | |||||
| No fixed interest rate | 73.7 | 72.1 | 70.3 | 68.8 | 68.1 |
| Loans with a fixed interest rate | 26.3 | 27.9 | 29.7 | 31.2 | 31.9 |
| Less than 1 year | 3.9 | 4.0 | 2.0 | 3.0 | 2.8 |
| From 1 to 5 years | 15.7 | 16.8 | 20.1 | 23.2 | 24.0 |
| Over 5 years | 6.7 | 7.1 | 7.6 | 5.0 | 5.1 |
The share of loans with a fixed interest rate out of all loans to Norwegian employees was 9.5 per cent at the end of the 1st quarter in 2014, down from 10.0 per cent at the end of the previous quarter.
From the 1st quarter of 2013 to the 1st quarter of 2014, the share of fixed-rate loans out of all loans from banks, mortgage companies and state lending institutions to employees fell by 1.6 percentage points. The decline in the share of fixed interest loans in the last four quarters follows an increase in the same rate from the 3rd quarter in 2011 to the 1st quarter in 2013. At the end of the 1st quarter this year, 81 per cent of employees’ fixed-rate loans have a remaining fixed rate period of over 1 year.
Reduced shares from the credit sources
The share of fixed-rate loans of total loans from banks to employees fell by 0.6 percentage points in the 1st quarter this year, reaching 8.8 at the end of the quarter. The same share from mortgage companies fell by 0.3 per cent, to 7.5 per cent in the same period.
Of total loans from state lending institutions, 26.3 per cent were loans with a fixed interest rate at the end of the 1st quarter. This is a decrease of 5.6 percentage points compared to the 1st quarter last year.
Increased share of fixed-rate loans to non-financial corporations
The share of loans with a fixed interest rate of total loans from banks, mortgage companies and state lending institutions to non-financial corporations decreased by 2.0 percentage points in the 1st quarter of 2014, to 21.0 per cent at the end of the quarter. Eighty-four per cent of the non-financial corporations’ fixed-rate loans have a remaining fixed rate period of less than 1 year.
The statistics is now published as Interest rates in banks and mortgage companies.
Additional information
This statistics show loans broken down by the remaining fixed interest rate period. The fixed interest rate period is measured as the time from the end of the reported period to the next interest rate regulation. Differences between figures in the text and the tables due to rounding off may occur.
Contact
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Statistics Norway's Information Centre
E-mail: informasjon@ssb.no
tel.: (+47) 21 09 46 42