Household Loans in Korea’s Five Largest Banks Increase by 2 Trillion Won in December
[비즈니스포스트] Household loans from Korea’s five largest banks increased by about 2 trillion won in December last year. According to the financial sector on the 2nd, the home loan balance of five banks, including KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup, at the end of December last year was 692.4094 trillion. ▲ It was […]
Financial Services Commission Announces Implementation of ‘Stress DSR’ System for Variable, Mixed, and Revolving Rate Loans in 2024
[딜사이트 이성희 기자] Starting next year, the ‘Stress DSR’ system will be implemented for variable, mixed and revolving rate loans across the financial sector. The Financial Services Commission announced on the 27th that it has decided to implement the ‘Stress DSR’ system for all industries and all loans to which DSR is applied starting from […]
Mortgage Loan Delinquency Rates Soaring for Young Borrowers
Worrying Trend of Increasing Mortgage Loan Delinquency Rate Among Young Borrowers For the past two years, a concerning trend has emerged in the world of mortgage loans. The delinquency rate among borrowers in their 20s or younger has remained significantly higher compared to other age groups. It seems that young individuals, just venturing into the […]
Controversy Arises Over Increased Interest Rates in LH Newlywed Hope Town amid Government Housing Policy Debate
Increased Interest Rates on LH Newlywed Hope Town Mortgage Loans Causes Concern An announcement by the Ministry of Land, Infrastructure and Transport has revealed that residents of LH Newlywed Hope Town will face an increase in their home mortgage loan interest rates, resulting in an additional burden of up to 20 million won. Housing and […]
Homebuyers Face Increasing Mortgage Loan Interest Burden as Rates Rebound
On the 30th, a special Bogeumjari Loan advertisement was displayed in a commercial bank in Seoul, signaling the increasing burden of loan interest on homebuyers. As major central banks refrain from cutting interest rates, immediate relief seems unlikely. According to the financial sector, the variable interest rate on mortgage loans, based on the new COFIX, […]
The COFIX Continues to Rise, Increasing Interest Rates and Burden on Borrowers
Rising COFIX Increases Interest Burden for Borrowers The COFIX, an indicator of variable interest rates on mortgage loans, is steadily increasing, causing a ripple effect on interest rates for bank loan products. This surge in rates has resulted in borrowers facing a heavier interest burden. Korean Bankers’ Federation Report Reveals Increase in June COFIX In […]
Record-Breaking Increase in Household Loans Raises Concerns About Growing Debt
According to the recent ‘Financial Market Trends’ report published by the Bank of Korea, the balance of household loans in deposit banks, including policy mortgage loans, reached a record high of 1,062.3 trillion won at the end of June, showing an increase of 5.9 trillion won from the previous month. This surge in household loans […]
For refinancing loans to protect the rights and interests of financial consumers…
There are countless systems or policies that have been addressed in the early stages of implementation and then declined. It is up to the financial authorities and the financial companies to make online refinancing loans last for a long time.[사진=연합뉴스] May 31, 2023 deserves to be recorded as a day when the rights and interests […]
I reduced the interest rate on the loan due to the ‘interest rate freeze’… Further widen the bank deposit margin
The bank’s home loan interest rate recorded 5.22 percent last month, falling for the second consecutive month. This is because, after the Bank of Korea froze the base rate at 3.5% last month, expectations that the tightening cycle (phase) in Korea has effectively ended have formed in the market, and the rates benchmark interest which […]
Kakao Bank “up to 0.6% discount if you transfer to Judam University”
Kakao Bank is offering interest rate discounts of up to 0.6% percent to ‘switch (replace)’ customers to celebrate the first anniversary of the launch of mortgage loans. In addition, Kakao Bank’s existing home mortgage loan customers are allowed to apply for additional loans within the limits of the mortgage loan ratio (LTV) and total debt […]
