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Published:
This is an archived release.
Stable share of fixed interest loans
The share of loans with fixed interest rate from all financial corporations to Norwegian households was almost unchanged from the 3rd to the 4th quarter of 2009. The share of loans with fixed interest rate fell for mortgage companies, was almost unchanged in banks, while there was an increase for state lending institutions.
The share of loans with fixed interest rates from financial corporations to Norwegian households increased in the first three quarters of 2009, but fell to 9.8 per cent in the 4th quarter. Changes in portfolio led to changes in the share of fixed rate loans in banks and mortgage companies. The share of fixed interest rate loans from mortgage companies fell from 6.4 to 5.6 per cent while the share of fixed interest rate loans from banks increased from 7.7 to 7.8 per cent. The share of loans with fixed interest rates from state lending institutions continued to rise and increased from 33.0 to 34.6 per cent.
Large demand for credit loans explains low share of fixed interest loans
An increasing share of credit loans to about 25 percentage points of total loans is one explanation for the low share of fixed interest rate loans from banks and mortgage companies compared to state lending institutions. Of total repayment loans the share of fixed rate loans from banks and mortgage companies to households was about 9.5 per cent at the end of 2009.
| Quarter | Banks | Mortgage companies | Banks and mortgage companies | State lending institutions | Mean | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 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 | 8.9 | 44.1 | 2.6 | 9.6 | 1.1 | 13.3 | 4.3 | 37.9 | 0.0 | 42.2 | 2.9 | 13.8 | 0.9 | 17.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q2 2004 | 1.6 | 8.5 | 0.6 | 10.6 | 11.7 | 19.5 | 7.3 | 38.5 | 2.2 | 9.1 | 1.0 | 12.4 | 4.5 | 38.2 | 0.0 | 42.7 | 2.5 | 13.4 | 0.9 | 16.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q3 2004 | 1.4 | 7.8 | 0.5 | 9.7 | 11.2 | 19.1 | 7.1 | 37.4 | 2.0 | 8.5 | 0.9 | 11.4 | 5.4 | 42.0 | 0.0 | 47.4 | 2.5 | 13.2 | 0.8 | 16.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q4 2004 | 1.6 | 7.2 | 0.5 | 9.2 | 11.8 | 16.2 | 8.1 | 36.1 | 2.2 | 7.7 | 0.9 | 10.8 | 4.0 | 40.4 | 0.0 | 44.3 | 2.4 | 12.2 | 0.8 | 15.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q1 2005 | 2.0 | 6.8 | 0.5 | 9.4 | 14.2 | 15.7 | 8.1 | 38.0 | 2.7 | 7.3 | 1.0 | 11.0 | 8.6 | 33.5 | 0.0 | 42.2 | 3.5 | 10.8 | 0.9 | 15.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q2 2005 | 2.7 | 5.5 | 0.5 | 8.7 | 11.1 | 15.0 | 7.2 | 33.3 | 3.2 | 6.0 | 0.9 | 10.1 | 9.9 | 32.0 | 0.0 | 42.0 | 4.1 | 9.4 | 0.8 | 14.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q3 2005 | 3.2 | 4.5 | 0.5 | 8.2 | 11.7 | 12.2 | 6.7 | 30.7 | 3.6 | 4.9 | 0.9 | 9.4 | 9.6 | 30.4 | 0.0 | 40.0 | 4.4 | 8.2 | 0.7 | 13.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q4 2005 | 2.9 | 4.1 | 0.6 | 7.6 | 16.7 | 14.6 | 7.7 | 39.0 | 3.5 | 4.6 | 0.9 | 8.9 | 8.6 | 30.5 | 0.0 | 39.1 | 4.1 | 7.8 | 0.8 | 12.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q1 2006 | 2.2 | 3.9 | 0.5 | 6.7 | 17.1 | 12.9 | 7.7 | 37.7 | 2.8 | 4.3 | 0.8 | 7.9 | 9.2 | 28.6 | 0.0 | 37.8 | 3.6 | 7.3 | 0.7 | 11.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q2 2006 | 1.5 | 3.6 | 0.6 | 5.7 | 15.5 | 10.4 | 6.4 | 32.4 | 2.0 | 3.9 | 0.8 | 6.6 | 3.9 | 28.8 | 0.0 | 32.7 | 2.2 | 6.8 | 0.7 | 9.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q3 2006 | 1.3 | 3.4 | 0.5 | 5.2 | 10.3 | 7.3 | 4.2 | 21.7 | 1.7 | 3.5 | 0.7 | 5.9 | 3.4 | 28.5 | 0.0 | 31.9 | 1.9 | 6.4 | 0.6 | 8.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q4 2006 | 1.4 | 2.9 | 0.7 | 4.9 | 4.7 | 7.3 | 4.8 | 16.8 | 1.5 | 3.1 | 0.8 | 5.4 | 3.0 | 27.4 | 0.0 | 30.4 | 1.7 | 5.8 | 0.7 | 8.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q1 2007 | 1.5 | 2.9 | 0.8 | 5.1 | 3.3 | 5.0 | 3.3 | 11.6 | 1.6 | 3.0 | 0.9 | 5.5 | 1.4 | 32.5 | 0.0 | 33.9 | 1.6 | 6.2 | 0.8 | 8.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q2 2007 | 1.5 | 2.6 | 0.8 | 4.9 | 2.5 | 4.0 | 2.2 | 8.7 | 1.6 | 2.7 | 0.9 | 5.1 | 1.7 | 32.2 | 0.0 | 33.9 | 1.6 | 5.8 | 0.8 | 8.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q3 2007 | 1.6 | 2.4 | 0.7 | 4.8 | 3.0 | 3.3 | 2.0 | 8.3 | 1.7 | 2.5 | 0.8 | 5.0 | 3.9 | 30.5 | 0.0 | 34.3 | 1.9 | 5.4 | 0.7 | 8.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q4 2007 | 1.5 | 2.5 | 0.7 | 4.8 | 3.0 | 2.2 | 1.4 | 6.7 | 1.7 | 2.5 | 0.8 | 5.0 | 9.6 | 23.6 | 0.0 | 33.3 | 2.5 | 4.7 | 0.7 | 7.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q1 2008 | 1.4 | 2.5 | 0.7 | 4.6 | 2.3 | 1.7 | 2.6 | 6.6 | 1.5 | 2.4 | 0.9 | 4.8 | 9.6 | 22.8 | 0.0 | 32.4 | 2.3 | 4.5 | 0.8 | 7.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q2 2008 | 1.2 | 2.6 | 0.7 | 4.5 | 1.6 | 1.3 | 2.3 | 5.3 | 1.2 | 2.5 | 0.9 | 4.6 | 12.7 | 20.3 | 0.0 | 33.0 | 2.4 | 4.2 | 0.8 | 7.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q3 2008 | 1.1 | 2.8 | 0.7 | 4.6 | 1.1 | 1.2 | 1.9 | 4.2 | 1.1 | 2.5 | 0.9 | 4.5 | 12.3 | 20.5 | 0.1 | 32.8 | 2.2 | 4.3 | 0.9 | 7.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q4 2008 | 1.1 | 2.6 | 0.6 | 4.4 | 1.3 | 1.7 | 1.8 | 4.8 | 1.1 | 2.4 | 0.9 | 4.4 | 7.6 | 20.1 | 0.1 | 27.7 | 1.8 | 4.2 | 0.8 | 6.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q1 2009 | 2.4 | 4.1 | 0.7 | 7.3 | 1.4 | 3.4 | 1.8 | 6.6 | 2.1 | 4.0 | 1.0 | 7.1 | 7.2 | 20.5 | 0.1 | 27.7 | 2.6 | 5.6 | 0.9 | 9.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q2 2009 | 2.5 | 4.3 | 0.7 | 7.5 | 1.2 | 3.5 | 1.9 | 6.6 | 2.1 | 4.1 | 1.0 | 7.3 | 4.8 | 26.4 | 0.1 | 31.3 | 2.4 | 6.3 | 0.9 | 9.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q3 2009 | 2.5 | 4.5 | 0.7 | 7.7 | 1.2 | 3.7 | 1.6 | 6.4 | 2.1 | 4.3 | 1.0 | 7.3 | 2.7 | 30.2 | 0.1 | 33.0 | 2.2 | 6.8 | 0.9 | 9.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q4 2009 | 2.6 | 4.5 | 0.7 | 7.8 | 0.4 | 3.7 | 1.5 | 5.6 | 1.9 | 4.2 | 1.0 | 7.1 | 4.0 | 30.4 | 0.2 | 34.6 | 2.1 | 6.8 | 0.9 | 9.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed interest on loans in NorwayFixed interest rate on loans gives predictability for interest costs, and can be regarded as an insurance against increasing interest rates. There are several possible reasons for the traditionally low share of loans with fixed interest in Norway. Among other factors, it could be that borrowers consider fixed interest more of a speculation than insurance. Another reason could be that the Central bank’s projections for the key policy interest rate are clearly communicated to the market. |
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