Lending to households continues to moderate, monthly statistics from Statistics Norway show. At the same time, interest rates are rising to the highest in over ten years. The annual growth rate for household mortgages was 3.7 percent in January. At the same time, total lending to households was 3.2 percent at an annual rate.
A year ago, the growth rate was over five percent. The average interest rate on a new home loan was 3.56 percent in January. The variable interest rate (three-month interest rate) was 3.54 percent, the highest since August 2012, according to Statistics Norway.
– It will be a salary that will be used to pay the interest. And that’s not all, you also have electricity, says Liz Pettersson, one of the mortgage borrowers that TV4 Nyheterna spoke to.
More voices in the clip above.