DNB setter opp boliglånsrenten

Norges Bank increased its policy interest rate by 0.25 percentage points to 4.5% last week. Now, DNB, Norway's largest bank, is also raising the rates on loans and deposits by up to 0.25 percentage points. The increase in the home loan rate will not take effect until the end of November. The bank must notify customers about negative changes two months before they come into effect.

Existing home loans with DNB will have the new rates from November 29. The bank also plans to wait before adjusting the rate for existing deposits, which will be effective from the same day. New home loans and deposits will be subject to the new interest rates starting tomorrow, September 29. Other major banks, such as Sparebank 1 Sør-Norge, Sparebank 1 Østfold Akershus, Nordea, and Handelsbanken, have also increased their home loan rates by 0.25 percentage points, following Norges Bank's change.

The policy rate set by Norges Bank directly affects the interest rates banks offer on loans and deposits. Bank of Norway's Governor Ida Wolden Bache attributed the increase to inflation exceeding targets for several years, stating that the rate hike will help curb it. She added that it may be necessary to keep the rate higher for some time, and the committee is prepared to raise it further if needed to bring inflation back to the 2% target by a reasonable time.

This is the second rate hike this year after Norges Bank's previous increase in May. In 2025, there were two cuts, but the policy rate is back to the same level before the rate cuts. A home loan rate increase of 0.25 percentage points could add approximately 420 kroner to monthly expenses for a 3 million kroner loan with a 5.20% effective interest rate and 25 years of amortization.