Statistical news focuses on the latest figures and trends in Danmarks Nationalbank’s statistics. Statistical news is targeted at people who want quick insight into current financial data.
Interest rate reduction on private customers' bank housing debt
In June and July, private customers could benefit from falling interest rates after a period in which, since autumn 2023, there have been only small movements in the average interest rate on Danes' bank debt for housing purposes. The interest rate on private customers' bank housing loans has fallen by 0.2 percentage points on average since May. The decrease is supported by new loans, where the average interest rate in the same period has fallen by 0.4 percentage points to now 5 percent. At the same time, the increase in the average interest rate incl. contributions on private customers' mortgage debt has flattened out. Many mortgage loans have received a new interest rate as of the 1st of July. Of these, there will be some customers with short interest rate fixings of three or six months who have experienced a drop in the interest rate on their loans, while other customers with longer interest rate fixings, e.g. F3 and F5 loans, have experienced significant interest rate increases. If you look at private customers' total housing debt, they had a debt of kr. 1,946 billion at the end of July at an average annual interest rate of 3.7 percent incl. contributions.
Interest rate drop for bank housing debt, but not yet for mortgage debt
Note:
The figure shows the effective interest rate (incl. contributions) on Danish private customers' (sector 1430, DK) outstanding bank and mortgage loans for housing purposes. In the figure, for February 2020 and 2024, the effect of leap years has been corrected, which the data for the interest statistics published in the statistics bank does not take into account. Find chart data in the Statbank here and here.