Banken Nordirekte cuts mortgage interest rate – E24

Banken Nordirekte cuts mortgage interest rate – E24

The interest rate cut occurs despite Norges Bank announcing an unchanged interest rate for the rest of the year, only cutting in the new year.

Early next year, Norges Bank's forecast for its first interest rate cut will be released.  Nordirect is not waiting for that.
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Digital bank Nordirekte, part of Skagerrak Sparebank, is cutting its mortgage interest rate by up to 0.20 percentage points. Therefore, the bank offers mortgage interest rates starting from 5.28 percent.

– It's about making us more competitive and gaining market share, explains Communications Manager Jan-Erling Kvisvik.

The interest rate cut comes after Norges Bank last week kept the key interest rate unchanged at 4.5 percent. At the same time, the central bank governor was clear that there was no need to raise interest rates further.

The Norwegian Bank has indicated that the first interest rate cut may not come until early next year. Nordirekte won't wait that long.

Banks usually follow Norges Bank's prime interest rate, but also market interest rates. If borrowing money becomes cheaper for the bank, it can easily lower the customer's mortgage interest rate.

Competition between banks can also lead to lower interest rates in an attempt to attract more customers.

About the Consumer Council's overview of mortgage interest rates at different banks,, There are big differences. This means that you can make a lot of money by switching banks.

Read on E24+

How to Switch Banks: – It Could Save Hundreds of Thousands

Dalila Awolowo

Dalila Awolowo

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