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 government must keep close tabs on the market so that apartment prices in Seoul and other popular areas do not heat up as during the pandemic.
Korea's rate cap could be raised as the financially vulnerable are shut out of the lending market by higher borrowing costs.
Korea will carry out eased lending rules for first-time homebuyers and owners of one home next month as the once-hot housing market appears to be entering a downturn amid rising interest rates, the land ministry said Thursday.
Peer-to-peer (P2P) lending in Korea could be taken global as gig-economy workers everywhere have similar income characteristics and credit profiles, according to 8percent CEO Lee Hyo-jin.
Banks' average lending rates for households in Korea rose to the highest level in about eight years in May, in line with the central bank's aggressive push to raise borrowing costs to tackle fast-rising inflation, data showed Thursday.
Household loans extended by banks in Korea expanded for the second straight month in May but at a slower pace than a month earlier amid rising borrowing costs, central bank data showed Friday.
Jang Ha-won, CEO of Discovery Asset Management, a troubled fund company accused of causing losses to investors of over 250 billion won, was arrested Wednesday.
Korean insurance companies saw their lending grow at a slower pace in the third quarter from three months earlier due to tougher rules on household loans, data showed Monday.
Korea JoongAng Daily Sitemap
