Interest rates on mortgages edge up to average of 3.13%

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Interest rates on mortgages edge up to average of 3.13%

Published: 26 Jan. 2017, 17:53

Bank lending rates on new household loans edged up in December while interest rates paid by banks on new deposits also increased, central bank data showed Thursday.

The average interest rates on fresh household loans extended by local banks came to 3.29 percent last month, up 0.09 percentage point from the previous month, according to the Bank of Korea (BOK).

The average interest rates on new mortgages came to 3.13 percent in December, up 0.09 percentage point from a month earlier, according to the BOK. The average interest rates on all new loans stood at 3.44 percent in December, up 0.08 percentage point from a month earlier. YONHAP