Says Randi Marjamaa, head of the personal market of Nordea NRK extension that more Norwegians will face a tough financial year with higher interest rates, more expensive food and electricity.
– Many people will have to adjust their consumption in order to manage the situation, he tells NRK.
This year, Nordea has had a doubling of customers requesting payment waivers.
– There has been a doubling since last spring and applications have gradually increased throughout the autumn, says Marjamaa.
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Free installment means that you don’t pay mortgage installments for a period, only interest and expenses.
– If there is a permanent increase, as interest rates now indicate, then one should ideally adjust consumption, and rather save the grace period, says Marjamaa.
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In 2023, consumption will decrease. Norges Bank, which set its key interest rate on Thursday, thinks so. It is now at 2.75%, the highest level since 2009.
But that’s not all: Norges Bank announces a new increase to 3% in the first quarter. The interest rate will likely stay there before falling slightly in 2024. That will mean a mortgage interest rate of between 4 and 4.5 percent, according to the central bank governor.
(©NTB)
