SEOUL, Oct. 16 (Yonhap) — The mean borrowing rate of leading banks in South Korea for home loans rose compared to the preceding month in September, as per data published Monday.
COFIX, a benchmark rate for mortgage loans, climbed to 3.82 percent last month, a 0.16 percentage point rise from August, the Korea Federation of Banks reported.
The COFIX rate for existing loans also advanced 0.02 percentage point to 3.88 percent during the same period.
COFIX is based on the funding costs of eight major local banks in South Korea, such as Shinhan, Woori, KEB Hana and KB Kookmin.
Analysts anticipate the Bank of Korea will maintain its key rate at 3.5 percent when it holds its rate-setting meeting Thursday.
bdk@yna.co.kr
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Related Articles BOK expected to stand pat this week over growth risks: experts (LEAD) Banks’ household loans up for 6th month in September on rising mortgages S. Koreans borrowed 476.9 tln won in loans over past year: FSS data
Interest Rates for New Loans Surge in September
SEOUL, Oct. 16 (Yonhap) — Average borrowing rates of major banks in South Korea for home loans increased from the previous month in September, according to data released Monday.
COFIX, or the Cost of Funds Index, a benchmark rate for mortgage loans, rose to 3.82 percent last month, a 0.16 percentage point surge from August, the Korea Federation of Banks reported.
The COFIX rate for existing loans also grew 0.02 percentage point to 3.88 percent during the same period.
COFIX is based on the funding costs of eight major local banks in South Korea, such as Shinhan, Woori, KEB Hana and KB Kookmin.
Analysts anticipate the Bank of Korea will keep its key rate at 3.5 percent when it holds its rate-setting meeting Thursday.
bdk@yna.co.kr
(END)
Related Articles BOK expected to stand pat this week over growth risks: experts (LEAD) Banks’ household loans up for 6th month in September on rising mortgages S. Koreans borrowed 476.9 tln won in loans over past year: FSS data