Rates on new mortgages fell in February, BOK data shows

Home > Business > Finance

print dictionary print

Rates on new mortgages fell in February, BOK data shows

Bank lending rates on new household loans edged down in February, and interest rates paid by banks on new deposits also fell, central bank data showed Thursday.

The average interest rates on fresh household loans extended by local banks came to 3.38 percent in February, down 0.01 percentage point from the previous month, according to the Bank of Korea.

The data came amid Korea’s efforts to tackle rising household debt. Korea’s outstanding household credit came to 1,344.3 trillion won ($1.2 trillion) at the end of 2016, up 11.7 percent from a year earlier.

The average interest rates on new mortgages came to 3.19 percent in February, up 0.03 percentage point from a month earlier, according to the Bank of Korea. YONHAP

More in Finance

Stocks fall more than 1% as profit-taking continues

Profit-taking ends four-session winning streak for Kospi

Lottery sales hit record in the first half

Another recent high

Kospi winning streak continues with two-year high

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now