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Higher interest rates on Danish mortgage loans
Following the outbreak of the war in the Middle East, Danish mortgage rates have increased. The higher level of interest rates contributed to an increase in the interest rate (excluding the administration margin) on new mortgage loans to households disbursed in March, which rose by 0.11 percentage points to an average of 3.11 per cent. The increase was mainly driven by a substantial rise of 0.35 percentage points in the interest rate on new variable-rate loans, which accounted for 72 per cent of households’ new mortgage loans in March. While rising interest rates affect new loans immediately, existing loans are only affected in connection with refinancing and loan conversions. As a result, the average interest rate on households’ total mortgage debt increased only slightly in March, by 0.02 percentage points to 2.60 per cent. The impact of higher interest rates will be more clearly reflected in the average interest rate for April 2026, which will include the most recent refinancings.
Interest rate on new mortgage loans rose to 3.11 per cent in March
Note:
The figure shows the annual interest rate (excluding the administration margin) on new loans and on all loans (AL50), respectively, from mortgage credit institutions to Danish households (sector 1430, employees, pensioners, etc.). New loans include disbursed loans and loans that have been refinanced within the period. Figure data are available in the Statbank table DNRUURI and DNRNURI.