Additional Increase Following the 24th of Last Month
NH Nonghyup Bank announced on the 13th that it sent an official letter to its branches stating that the mortgage loan interest rates will be increased by 0.3 percentage points starting from the 14th.
Earlier, on the 24th of last month, Nonghyup Bank raised the interest rates of its face-to-face mortgage loan fixed-rate and mixed-rate products by 0.2 percentage points each. Recently, housing prices, especially in the metropolitan area apartments, have been rising, causing household loans to surge as well. Commercial banks have started managing the total volume of household loans through interest rate hikes.
The outstanding household loans of the five major banks (KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup) amounted to 718.213 trillion won as of the 8th, which is 2.4747 trillion won more than the 715.7383 trillion won at the end of July.
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