Interest rates going up

Interest rates going up
Interest rates on the so-called F1 flexible rate mortgage loans are going up. Other interest hikes are expected
 
10.02.2022 - 14:30

After years with negative interest rates on loans, the rates have now flipped positive.

Since the 2008 financial crisis, central banks across the world have lowered their interest rates to boost consumer spending. This policy is now being tightened in an effort to combat inflation.

In keeping with this trend, the F1 flexible rate mortgage loans in the Faroes will become more expensive, and interest rates on regular bank loans may also go up, according to Turid Finnbogadóttir Arge, chief operating officer of BankNordik.

“This will affect most of our borrowers as relatively few Faroese households take out fixed rate loans,” she says.

 

Read the Faroese version of this article here.

Translated by prosa.fo.

More Faroese News in English.

Er kopiera
Nýggjastu sendingar í ÚV
Hósdag 28. mars
Ein sangur til dirvi
172633
Hósdag 28. mars
Lesikrókurin: Staklutirnir
172944
Hósdag 28. mars
Úr Koltri til Kirkjubøar (1:2)
172479
Nýggjastu sendingar í SV
Hósdag 28. mars
Skírishósdagur: Tummas Kannuberg
172799
Hósdag 28. mars
Hin rusuti á Aconcagua
172934
Hósdag 28. mars
Guðstænasta úr Kollafjarðar kirkju
172938
Mikudag 27. mars
Frætt og fregnað 1 (1:3)
40584
Mikudag 27. mars
Frætt og fregnað 1 (2:3)
40585