House mortgages to be reigned in / News / The Foreigner

House mortgages to be reigned in. Authority to suggest new guidelines for banks. Norges Bank is to hold its regular interest rate meeting today. House prices are going up, the lending rate is low, and Postbanken’s customers are ignoring the bank’s advice to pay more towards their mortgage whilst times are good. Meanwhile, Bjørn Skogstad Aamo, the Norwegian Financial Supervisory Authority’s director tells Dagens Næringsliv he’s worried the rising prices, together with banks’ increased willingness to lend, will mean consumers feel the pinch in three years.

norges, bank, interest, rate, finanstilsynet, mortgages, lending, house, prices, norway



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House mortgages to be reigned in

Published on Wednesday, 3rd February, 2010 at 11:03 under the news category, by Michael Sandelson   .

Authority to suggest new guidelines for banks.

House keys
House keys
Photo: The Truth About/Flickr


Norges Bank is to hold its regular interest rate meeting today. House prices are going up, the lending rate is low, and Postbanken’s customers are ignoring the bank’s advice to pay more towards their mortgage whilst times are good.

Meanwhile, Bjørn Skogstad Aamo, the Norwegian Financial Supervisory Authority’s director tells Dagens Næringsliv he’s worried the rising prices, together with banks’ increased willingness to lend, will mean consumers feel the pinch in three years.

In a fresh report, the authority writes it wants to introduce new measures that will ensure “a responsible house mortgage lending policy. Norway is once again experiencing a sharp rise in house prices, and lenders are fully-financing the customer’s purchase to a much greater degree.”

It’s expected the authority will put their new suggestions forward in a circular at the beginning of March.



Published on Wednesday, 3rd February, 2010 at 11:03 under the news category, by Michael Sandelson   .

This post has the following tags: norges, bank, interest, rate, finanstilsynet, mortgages, lending, house, prices, norway.





  
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