The National Bank of Denmark published March 2026 banking and mortgage credit statistics showing that the annual interest rate on new mortgage loans to households, excluding the administration margin, rose by 0.11 percentage points to an average of 3.11 per cent. The release links the increase to higher Danish mortgage rates following the outbreak of the war in the Middle East. The move was mainly driven by a 0.35 percentage point increase in the interest rate on new variable-rate loans, which accounted for 72 per cent of households’ new mortgage borrowing in March. By contrast, the average interest rate on households’ total mortgage debt increased only 0.02 percentage points to 2.60 per cent, as existing loans are affected only when they are refinanced or converted. New loans in the statistics include both newly disbursed loans and loans refinanced during the period. The National Bank of Denmark said the effect of higher interest rates should be more clearly visible in the average interest rate for April 2026, which will include the most recent refinancings.
National Bank of Denmark 2026-04-30
National Bank of Denmark reports March rise in new household mortgage rates to 3.11 per cent
The National Bank of Denmark reported that the average annual interest rate on new mortgage loans to households, excluding the administration margin, rose by 0.11 percentage points to 3.11 per cent in March 2026, driven mainly by a 0.35 percentage point increase in rates on new variable-rate loans, which made up 72 per cent of new borrowing. The average interest rate on households’ total mortgage debt increased by 0.02 percentage points to 2.60 per cent, as existing loans are only affected upon refinancing or conversion, with the impact of recent refinancings expected to be more visible in April 2026.