OSLO, April 3 DNB, Nordea and Skandiabanken have cut the mortgage rates they charge in Norway, the banks said on Thursday.
DNB is cutting rates by 25 basis points to 3.45 percent for its best mortgage deals while Nordea is reducing its rates by 20 basis points to 3.50 percent for the best deals. Skandiabanken, owned by Swedish financial group Skandia, is cutting rates by 15 basis points to 3.55 percent.
Nordea said on its website it had acted because of strong competition among banks for customers.
Banks have benefited from the Norwegian central bank keeping its interest rates at the low level of 1.5 percent for the past two years while charging higher mortgage rates for customers. (Reporting by Gwladys Fouche; Editing by Anthony Barker)