“In 2022, homeowners restructured mortgages worth almost DKK 375 billion. This is the second largest amount since the beginning of the statistics in 1995 – only surpassed by 2019, when homeowners rescheduled loans of DKK 415 billion. 

Although trading activity is lower in the housing market than in previous years, there is still a high demand for Danish mortgage loans. In recent years, it is loans for home purchase that have driven the development, while in 2022 it was especially restructuring that took up a lot of space. The explanation is that interest rates have risen in 2022, which means that homeowners with a fixed-rate loan have been able to cut a large part of their outstanding debt in connection with a restructuring.

During 2022, the interest rate on a 30-year fixed-rate mortgage has increased from 1.5 to 5 per cent, which also means that the prices of the bonds behind the fixed-rate loans have fallen. As a result, some homeowners have been able to cut up to 30 per cent of their outstanding debt."