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– “We have looked back to 1820 and we believe that this will be the lowest mortgage interest rate in Norwegian history,” says customer director Kjartan Reve at Sparebanken Øst to Dagens Næringsliv.
Say no to mortgage cuts
1.1 percent
As is well known, the key policy rate was lowered earlier as a result of the crown crisis and, in the last interest rate decision, it remained at 0%.
This has slowly but surely led to lower mortgage rates at banks.
Now the competition is intensifying even more, and on Friday Sparebanken Øst says its mortgages will have “the lowest interest rates in Norwegian history”, at 1.1 and 1.2 percent, respectively. It was DN (login required) who mentioned the case first.
Previously, the bank must have had a 1.49 percent mortgage interest rate.
– Through corona, at Sparebanken Øst we have chosen to be reticent when it comes to growth. But now is the time to use the competitiveness we have and challenge the big banks, says Reve.
Demand cuts in interest rates
High competition between banks and low interest rates are definitely good reasons to switch banks or demand interest rate cuts from our own bank, something that the experts recommend and that we have also tried successfully.
In July of this year, the council of the Consumer Council said that everyone with a mortgage interest rate of more than 2 percent should change banks or negotiate with their bank, writes NTB.
