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Published:
This is an archived release.
Still low share of fixed interest rate loans
In the third quarter of 2007, only 11.4 per cent of total loans to the general public were fixed interest loans, the same share as in the last quarter, but significantly lower than when the statistics started in the first quarter of 2004. The fixed interest loan share was then 20 per cent.
From the first quarter of 2004 to the second quarter of 2007, the share of fixed interest rate loans of total loans to the general public has decreased in all quarters but one. From the second to the third quarter, there is no change in the share of fixed interest rate loans
The statistics consist of all loans to banks, mortgage companies and state lending institutions. By comparing the different creditors’ fixed interest rate loan shares on loan to the general public, it turns out that the share has been decreasing for banks in all quarters before levelling out on 5.7 per cent in the last quarter. The mortgage companies fixed interest loan shares have decreased in most of the quarters since the first quarter of 2004. However, the share is still high, and fell only marginally in the last quarter.
Still high share of fixed interest rate loans from state lending institutions
The share of loans with fixed interest rates from state lending institutions to the general public (municipalities, non-financial enterprises and households) has increased slightly the latest quarters, and is now 37 per cent. This share is still more than 5 percentage points lower than in first quarter in 2004.
| Quarter | Banks | Mortgage companies | State lending institutions | ||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Less than
1 year |
1 to 5
years |
More than
5 years |
Total |
Less than
1 year |
1 to 5
years |
More than
5 years |
Total |
Less than
1 year |
1 to 5
years |
More than
5 years |
Total | ||||||||||||||||||||||||||||
| Q1 2004 | 2.0 | 8.8 | 0.6 | 11.3 | 13.4 | 21.8 | 9.0 | 44.1 | 4.3 | 37.9 | 0.0 | 42.2 | |||||||||||||||||||||||||||
| Q2 2004 | 1.6 | 8.5 | 0.6 | 10.6 | 11.7 | 19.5 | 7.3 | 38.5 | 4.5 | 38.2 | 0.0 | 42.7 | |||||||||||||||||||||||||||
| Q3 2004 | 1.4 | 7.8 | 0.5 | 9.7 | 11.2 | 19.1 | 7.1 | 37.4 | 5.4 | 42.0 | 0.0 | 47.4 | |||||||||||||||||||||||||||
| Q4 2004 | 1.6 | 7.2 | 0.5 | 9.2 | 11.8 | 16.2 | 8.1 | 36.1 | 4.0 | 40.4 | 0.0 | 44.3 | |||||||||||||||||||||||||||
| Q1 2005 | 2.0 | 6.8 | 0.5 | 9.4 | 14.2 | 15.7 | 8.1 | 38.0 | 8.6 | 33.5 | 0.0 | 42.2 | |||||||||||||||||||||||||||
| Q2 2005 | 2.7 | 5.5 | 0.5 | 8.7 | 11.1 | 15.0 | 7.3 | 33.3 | 9.9 | 32.0 | 0.0 | 42.0 | |||||||||||||||||||||||||||
| Q3 2005 | 3.2 | 4.5 | 0.5 | 8.2 | 11.7 | 12.2 | 6.7 | 30.7 | 9.6 | 30.4 | 0.0 | 40.0 | |||||||||||||||||||||||||||
| Q4 2005 | 2.9 | 4.1 | 0.6 | 7.6 | 16.7 | 14.6 | 7.7 | 39.0 | 8.6 | 30.5 | 0.0 | 39.1 | |||||||||||||||||||||||||||
| Q1 2006 | 2.2 | 3.9 | 0.5 | 6.7 | 17.1 | 12.9 | 7.7 | 37.7 | 9.2 | 28.6 | 0.0 | 37.8 | |||||||||||||||||||||||||||
| Q2 2006 | 1.5 | 3.6 | 0.6 | 5.7 | 15.5 | 10.4 | 6.4 | 32.4 | 3.9 | 28.8 | 0.0 | 32.7 | |||||||||||||||||||||||||||
| Q3 2006 | 1.3 | 3.4 | 0.5 | 5.2 | 10.3 | 7.3 | 4.2 | 21.7 | 3.4 | 28.5 | 0.0 | 31.9 | |||||||||||||||||||||||||||
| Q4 2006 | 1.4 | 2.9 | 0.7 | 4.9 | 4.7 | 7.3 | 4.8 | 16.7 | 3.0 | 27.4 | 0.0 | 30.4 | |||||||||||||||||||||||||||
| Q1 2007 | 1.5 | 2.9 | 0.8 | 5.1 | 3.3 | 5.0 | 3.3 | 11.6 | 1.4 | 32.5 | 0.0 | 33.9 | |||||||||||||||||||||||||||
| Q2 2007 | 1.5 | 2.6 | 0.8 | 4.9 | 2.5 | 4.0 | 2.2 | 8.7 | 1.7 | 32.2 | 0.0 | 33.9 | |||||||||||||||||||||||||||
| Q3 2007 | 1.6 | 2.5 | 0.7 | 4.8 | 3.2 | 3.5 | 2.2 | 8.9 | 3.9 | 30.8 | 0.0 | 34.7 | |||||||||||||||||||||||||||
Households have loans with floating interest rate
In the two latest quarters, the fixed interest share of loans to the general public has been 8,2 per cent, after a decrease from almost 18 per cent in the first quarter of 2004. More than one of three NOK lent to households from state lending institutions have fixed interest rates, while the similar figure for banks is less than one of 20. The fixed interest share of the mortgage companies’ loans to households has decreased from 39 per cent by the end of 2005 to less then 9 per cent in the third quarter of 2007.
Local government sectors have a high share of fixed interest rate loans
After a slump in the share of fixed interest rate loans to local government sectors to barely 40 per cent in the second quarter of 2005, the share of fixed interest rate loans rose to 48 per cent at the end of the second quarter of 2007. This is the same share as in the third quarter.
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
-
Statistics Norway's Information Centre
E-mail: informasjon@ssb.no
tel.: (+47) 21 09 46 42