Cofix, or the Cost of Funds Index, a benchmark lending rate for mortgage loans, came to 3.82 percent in September, up 0.16 percentage points from a month earlier, according to the data from the Korea Federation of Banks.
The Cost of Fund Index (Cofix), which is the reference rate for variable-rate mortgages, fell for the first time in 11 months to 4.29 percent in December.
The cost of fund index (Cofix) broke 3 percent in September for the first time in a decade. Cofix is used to calculate floating-rate mortgage rates. It is arrived at by averaging out the interest rates for deposit products at eight banks...
For the first time, mortgage loans offering an annual interest rate below 2 percent have surfaced two months after the Korean central bank dropped the nation’s key interest rates to a historic low in the face of the coronavirus pandemic.
Korea JoongAng Daily Sitemap
