December mortgage interest rate 4.63%… second month decline
The average interest rate on mortgage loans fell for the second consecutive month last month due to adjustments in the spread by the banking sector.
According to Bank of Korea, the annual interest rate on home loans based on the bank’s new handling amount in December last year was 5.6%, an increase of 0.03 percentage points from a month ago, the highest level in 10 years and 9 months.
However, among home loans, the interest rate on mortgage loans fell by 0.11 percentage points to 4.63% per annum, continuing the downward trend for the second consecutive month.
The average lending rate, which reflects corporate and household borrowing rates, also fell by 0.08 percentage points to 5.56% per annum, the first time in nine months that the average of all lending rates fell.
Reporter Lee Jae-dong (firstname.lastname@example.org)
#Judamdae #Home Loan #Interest Rate