Several banks increase home loan rates less than the Central Bank of Norway, or keep them unchanged. – We actually decided immediately, says the director of a local bank.
Central Bank Director Ida Wolden Bache surprised many with the latest interest rate increase to 4.5 percent in December. While the major banks follow suit, several smaller banks believe the interest rate is high enough. Photo: Cornelius Poppe / NTB Published:
December 23
Several banks have followed suit with the Central Bank of Norway and raised their rates.
DNB, Nordea, and Danske Bank have all raised the interest rate by 0.25 percentage points, which is the same as the Central Bank of Norway raised the policy rate on December 14.
But some banks are going against the tide. At least ten banks have announced that they will not raise interest rates now. Others are raising interest rates less than the Central Bank of Norway.
Read on E24+
This is the amount you pay in installment fees on the mortgage
This is partly to protect customers, and because the banks’ own loan costs have not increased so much, several of the banks told E24.
Banks that drop or soften their increases:
These banks will not raise the interest rate at this time:
BN Bank, Sparebank1 Hallingdal Valdres, Askim & Spydeberg Sparebank, Hegra Sparebank, Sunndal Sparebank, Ørskog Sparebank, Trøgstad Sparebank, Selbu Sparebank, Romsdalsbanken, OBOS-Banken
These banks will increase by only 0.15 percentage points or less:
Sparebank1 SR-Bank,
Sparebanken Vest,
Grong Sparebank,
Sparebanken Sør
Sources: The banks themselves, Renteradar
– It’s starting to get tough
– We actually decided immediately, says Emil Inversini, CEO of Askim & Spydeberg Sparebank.
The bank keeps all rates unchanged, both on loans and deposits for private customers, farmers, and businesses.
– For us, it is a situation where parts of the customer base think it’s starting to get tough. People have used up their reserves and wonder what’s going to happen now. There is nothing to suggest that we see increased defaults, but we see that people are increasingly uncertain, he says.
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