OSLO, NORWAY: The Norwegian central bank, Norges Bank, Thursday raised the key policy rate by 0.25 percentage points. DNB has today decided to increase the interest rate on home mortgages by up to 0.25 percentage points.

“Norges Bank’s key policy rate increase marks the end of an historical period with zero interest rates. We are approaching normality. Our home mortgage customers will still have a very low interest rate after this adjustment,” says Ingjerd Blekeli Spiten, Group Executive Vice President for Personal Banking in DNB.

All customers whose interest rates are adjusted, will be given information in the Internet bank or receive a letter by regular post, explaining how their home mortgage will be affected. The new interest rates will be effective from 28 September for new customers, and from 12 November for existing customers.