South Korean banks’ average mortgage rates hit three-year high: report

The 3.26% interest rate average is its highest since November 2018.

South Korean banks’ average interest rate on mortgage loans averaged 3.26% in October, up 0.25 percentage point from a month earlier, reports Yonhap, based on data released by the Bank of Korea.

This marks the highest since November 2018, when the corresponding rate was 3.28%.

The rise comes after the local government tightened lending rules in an attempt to reign in soaring household debt.

Banks' unsecured loan rate also rose to a two-year high, averaging 4.62% in October—0.47 percentage point higher than the preceding month and the highest since March 2019, when it reached 4.63%.

Follow the link s for more news on

Bank of Korea

South Korea household debt

South Korea mortgage rate hike

Also Read

Slower credit growth on the horizon for Cambodian lenders

ZA Bank’s Rate Watch offers $114 for lower interest proof

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit