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Price Boom Far From Over in $450 Billion Danish Mortgage Market

Nykredit tripled its profit after tax last quarter, from a year earlier, and now has a common equity Tier 1 capital ratio -- a key measure of a bank’s ability to withstand losses -- of 19.4 percent. That’s more than Nykredit targets in connection with an initial public offering due to take place before the end of 2018.

“We need to accumulate capital and we are doing that,” Rasmussen said in a phone interview. “But the need for getting access to capital, to get the capital flexibility, still stands.”

Nykredit has said it needs to raise about 15 billion kroner ($2.2 billion) in additional capital to meet stricter global standards that are expected to limit a lender’s scope to estimate its own risk weights. Rasmussen said it’s still “too early to say” whether that figure might end up being smaller. He also said continued housing gains shouldn’t be taken for granted.

“It’s also clear that the development we are seeing should be monitored closely,” he said.

Long-term US mortgage rates slip this week

Long-term U.S. mortgage rates dropped slightly this week.

Mortgage buyer Freddie Mac says the benchmark 30-year, fixed-rate mortgage averaged 3.90 percent, down from 3.91 percent last week. The rate stood at 3.56 percent a year ago and averaged a record low 3.65 percent in 2016.

The 15-year, fixed-rate home loan, popular with homeowners seeking to refinance their mortgages, also blipped lower — to 3.17 percent from 3.18 percent. A year ago, the 15-year rate was 2.83 percent.

The rate on five-year, adjustable-rate mortgages decreased to 3.14 percent from 3.15 percent. It was 2.74 percent a year ago.

Mortgage rates have remained low even though the Federal Reserve has been raising short-term rates: The Fed last week ratcheted rates higher for the third time in six months.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.