Strict new lending rules unwelcome

Real estate brokers, bankers and borrowers alike are not laying out the welcome mat for strict new residential lending rules proposed by Norwegian finance regulators. The new rules are aimed at lowering Norway’s record-high housing prices and warding off a debt crisis, but critics are far from convinced they’ll have the desired effect. Protests started pouring in to Finance Minister Siv Jensen as […]

State loans pose new debt risks

Stricter borrowing rules in Norway have left higher-income groups struggling to get a home loan through commercial banks, and led to a rush of new applicants to the state-backed housing financier Husbanken. Its loans are easier to obtain, and that’s setting off new fears of lending that’s too risky. Husbanken’s mortgages, traditionally called a startlån (literally, […]

Household debt hits record levels

Norwegian homeowners’ debt levels have skyrocketed over the last eight years, with some now paying down mortgages that are three times larger than average loan amounts in 2004, according to fresh data. On average, mortgage amounts are up 55 percent in just five years, and consumer debt has risen as well, but Norwegians are still […]