With the base interest rate raised six times in a row… Judamdae interest rates opened at 8%
Bogeumjari loans frozen until the end of the year, interest rates are expected to rise next year
| Photo: United |
[대한경제=신보훈 기자] As the Bank of Korea’s Monetary Policy Committee (Monetary Policy Committee) raised the base interest rate by 0.25 percentage points on the 24th, it has become more difficult to buy a home with a loan. Amidst the double whammy of rising interest rates and falling house prices, ‘Young Klul (investing by attracting souls)’ borrowers are experiencing the double burden of housing mortgage interest rates rising up to 8% per annum, making it increasingly difficult to end users. to buy houses.
According to the financial sector on the 27th, the floating interest rate of the top 5 domestic banks is 7.8%, and the fixed interest rate (mixed type) is in the low range of 7%. If the base rate raised at the MPC meeting is reflected in the market, it is certain that the interest rate will exceed 8% within the year.
When the base rate is raised by 0.25 percentage points, the interest of all borrowers increases by about 3.3 trillion won. This is a figure calculated by the Bank of Korea by applying the percentage of non-fixed rate loans (74.2%) to banks and non-bank financial institutions to the balance of household loans at the end of the second quarter of this year. At this time, the annual interest burden per home borrower increases by an average of 164,000 won.
If the interest rate rises to 8%, it is inevitable that the burden on borrowers who have borrowed money to buy a house will increase. Assuming you borrow 400 million won with a maturity of 30 years, the monthly interest alone is 2.66 million won. Including the principal payment, the principal interest rate to be paid each month is equivalent to 2.93 million won.
 |
To make matters worse, from next year, interest rates on Bogeumjari Loan and Conforming Loan products will also rise. Bogeumjari Loan, which is a policy product of Korea Housing Finance Corporation, is a fixed interest rate product that is lower than that of commercial banks, and has been attracting attention as a ‘shelter’ during interest rate hikes. This is thanks to the fact that the interest rate has been kept at the middle level of 4% regardless of the increase in the base rate until the end of the year, as it has the character of supporting the common people to buy home.
However, interest rates are expected to rise next year. Bogeumjari’s loan interest rate is based on the issuance rate of asset-backed securities (MBS), which is the cost of acquisition, and the interest rate on long-term bonds over five years has already exceeded 5%. In addition, other costs such as MBS issuance costs are added, and the real interest rate should rise further.
A special Bogeumjari loan that expands the existing Bogeumjari loan is expected to be released as the housing subscription requirement for the secured conversion loan is eased to less than 900 million, but detailed investigations and interest rates are yet to be confirmed .
Mr A in his 30s, who is preparing to buy a house, said, “The price of real estate is falling these days, so I’m thinking of buying it in the next year or two, but the interest rate on the loan has gone up too much than I thought.” I found out, but now the interest rate itself is too expensive, so I have a lot of concerns about the principal and the interest.”
Correspondent Bohun Shin bbang@
〈ⓒ Daehan Economic Daily (www.dnews.co.kr), unauthorized reproduction, collection and redistribution prohibited〉
