Here is a list of the cheapest mortgages after probably reaching the peak interest rate at that time.
The mortgage rates we are seeing now are likely to remain for a long time. Interest rates are not expected to change in the foreseeable future.
The average effective interest rate in the interest rate statement is currently 3.06 percent. It varies from 2.42 percent to 3.71 percent.
The following overview is sorted by effective interest rate. It is based on a NOK 2 million loan within 50% of the market value, which is repaid over 15 years.
Most banks adjusted their interest rates. The exceptions are the contracts that LOfavør has with SpareBank 1 SMN and SpareBank Østlandet, and the contract the Legal Association has with Handelsbanken. But even if they were to raise interest rates slightly, they would still be among those with the lowest interest rates.
Membership ensures the lowest interest rates
You must be a member of a trade union to get the lowest interest rates. Today, the LOfavør agreement with SpareBank 1 SMN is the lowest interest rate. In addition to the requirement to be a LO member, the loan requires that it be your first home purchase (first home loan). But there is no age limit.
This is in line with the agreement the Norwegian Bar Association has concluded with Handelsbanken, which has an effective interest rate of 2.50 percent.
The government pension fund adjusts the interest rate from November 1 to 2.55% applicable. This interest rate will rise further from January 1 because it is linked to other interest rates that have risen.
Then follow the LOfavør-SpareBank 1 Østlandet, NAL-Gjensidige, Akademikerne-Danske Bank agreements.
The cheapest available to everyone
Of the 13 with the lowest interest rates, only three are open to everyone.
The cheapest of them is Sbanken with an effective interest rate of 2.75 percent, which raised the interest rate by 0.20 percentage points.
The second cheapest is Storebrand Balanced Loan with an effective interest rate of 2.79 percent, which did not raise the interest rate. If the loan is NOK 4 million, the interest rate will drop effectively to 2.55 percent.
You can check other loan sizes in "Find the cheapest mortgage".
The Change column shows the change in the effective interest rate after the key rate increased on 19 September. On average, mortgage rates increased by 0.19 percent, which is slightly less than an increase of 0.25 percentage points.
|LOfavør – Spb 1 SMN||2.42%||0,00%||with|
|Chancellery – Handelsbanken||+ 2.50%||0,00%||Open|
|State Pension Fund||2.55%||0.30%||Open|
|LOfavør – Spb 1 Eastern Norway||2.55%||0,00%||with|
|NAL – Mutual||2.68%||0.26%||Open|
|Research staff – Danske Bank||2.70%||0.20%||Open|
|Unio – Storebrand||2.78%||0,00%||Open|
|YS – Mutual||2.78%||0.36%||Open|
|Storebrand Balanced loan||2.79%||0,00%||Open|
|Pension insurance in Oslo||2.81%||0.26%||Open|
|Nurses Association – DNB||2.82%||0.20%||Open|
|Your bank (Spb East)||2.89%||0.20%||with|
|Land Credit Bank||2.95%||0.26%||with|
|NITO – Nordea||3.03%||0.11%||Indium|
|SpareBank 1 SMN||3.07%||0.25%||Indium|
|SpareBank 1 Eastern Norway||3.32%||0.10%||with|
|SpareBank 1 Telemark||3.32%||0.25%||with|
|SpareBank 1 SR-Bank||3.36%||0.25%||from|
|Boligkreditt.no (Spb Øst)||3.39%||0.59%||with|
|Sparebanken Sogn og Fjordane||3.42%||0.16%||Indium|
|SpareBank 1 BV||3.43%||0.20%||with|
|SpareBank 1 Hallingdal Valdres||3.43%||0.20%||with|
|SpareBank 1 Northern Norway||3.66%||0.26%||from|
Source: bank websites, Finansportalen.
under price you see the price principle used by the bank. There are three different variants:
- open: The price depends on the loan amount and collateral, the price is the same for everyone.
- from: The lowest possible rate of interest is given, but it is certainly not the rate that is offered.
- Indium: The interest rate is set individually. Often called the suggested price. You can get an interest rate below this.
fixed rate loans
Fixed-rate loans for 3, 5 and 10 years are about the same as the variable interest rate (3.06%). For the three-year bond, the corresponding average interest rate is 2.81 percent and for 5 years 2.91 percent. At a fixed ten-year rate, the average is 3.02 percent.
Many banks have interest rates on three- and five-year bonds than floating rates.
Check fixed rate loans here.