Minute match on borrowers – Dagens Næringsliv

Norwegian banks queued to cut mortgage rates by Norges Bank’s interest rate cut on Thursday. Half a million Norwegians might switch banks or haggle on housing loan in years.

Published: 18.06 .2015 – 9:53 p.m.

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It is buzzing in open plan offices of Nordea office in Ålesund. The phone lines are glowing, and the approximately 200 employees, more than enough to take away all that will have contact. On Thursday they prepared that pressure would be extra large.

– We noticed it right away bank lowered interest rates this morning, but we were prepared, says team leader Elisabeth Giske.

Nordea was the first bank that responded when the central bank came with clean cut Thursday morning. Governor Øystein Olsen cut awaited key interest rate by 0.25 percent to historically low one percent and also announced further interest rate cuts during the fall.