Bank of Korea: “If the mortgage interest rate rises by 0.5%, the interest burden per person increases by 590,000 won per year.”
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The Bank of Korea predicted that if the mortgage loan interest rate rises by 0.5 percentage points, the average interest burden per person could increase by more than 590,000 won per year.
The Bank of Korea predicted that if the mortgage loan interest rate rises by 0.5 percentage points, the average interest burden per person could increase by more than 590,000 won per year. As the possibility of the Bank of Korea raising the base interest rate increases due to rising prices, the interest burden on financial consumers is expected to increase. According to data submitted by the Bank of Korea to People Power Party lawmaker Lee Jong-wook on the 15th, it was estimated that if the mortgage interest rate rises by 0.5 percentage points, the total annual interest amount will increase by 3.7 trillion won. The average annual mortgage interest burden per loan borrower was found to increase by 592,000 won. The Bank of Korea presented an estimate based on the housing-related loan balance of 1,178.6 trillion won, including lease deposit loans, as of the end of March this year. It also reflects the fact that 35.6% of bank loans as of the end of April this year were variable interest rates. It is estimated that if the mortgage interest rate rises by 0.25 percentage points, the total interest amount will increase by 1.8 trillion won, and the interest burden per borrower will increase by 296,000 won. 0.75%
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