DNB lowers the interest rate on home mortgages

DNB has today decided to reduce interest rates on home mortgages by up to 0.50 percentage points. This is the second time in under two weeks that the bank has lowered its home mortgage rate.

- Due to the extraordinary situation the market is changing very quickly, which makes the price of money for banks unpredictable. This makes it very difficult to set long-term mortgage rates at the moment, says Ingjerd Blekeli Spiten, head of Personal Banking in DNB.

- As Norway’s largest bank, DNB must help keep the wheels turning at a time of uncertainty. Mortgages usually have a horizon of 20 to 30 years, and DNB intends to be a safe and predictable partner for our customers, through this crisis and for many years to come. We will continue to be here for customers across the country, and help find solutions for those who find themselves in a difficult situation, she continues.

- A huge number of Norwegians are now applying for interest-only periods, and we want to help them as quickly possible. We therefore ask that customers who have questions about interest rates, wait to contact us until they have received information on how their loans are affected by this interest rate change,” says Spiten.

The interest rate change for existing home mortgages comes into effect from 2 May. Our new rates will apply to new mortgages from 24 March. Next week, all customers whose interest rates are adjusted will be given information in the Internet bank or receive a letter by regular mail, explaining how their mortgage is affected.

For further information, please contact: 

Even Westerveld, EVP Corporate Communications, tel. ( 47) 400 16 744
Rune Helland, head of Investor Relations, tel. ( 47) 977 13 250

This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.