"Did you really lower the benchmark interest rate?"Loan rates are 'up'

BOK slashes benchmark interest rate by 0.25%p on 11th

Mortgage rates in the banking sector rather rise

Government Pressure on Household Loan Management...Raising Bank Interest Rate

The surge in the mortgage loans has been dampened, but...The possibility of lowering lending rates ↓

[Anchor]
The Bank of Korea has lowered its benchmark interest rate for the first time in more than three years, but it is difficult to feel it in the market.

The interest rate on mortgage loans at commercial banks has rather increased, so why is that?

I'm reporter Lee Hyungwon.

[Reporter]
The Bank of Korea lowered its key interest rate by 0.25%p on the 11th.

After more than three years of monetary tightening, mortgage rates in the banking sector have risen.

The bottom of the four major banks' fixed interest rates is over 4%.

It's up 0.1%p in 10 days.

In particular, variable interest rates have risen both at the top and bottom, with the top exceeding 6.5%.

This is because the indicator interest rate, which determines the loan interest rate, remains unchanged or some have risen.

In fact, the COFIX, the benchmark for variable interest rates on mortgage loans, has rebounded in four months.

The bank explained that the impact of the fall in the benchmark interest rate is not significant as expectations for a cut have been reflected in advance.

In particular, loan interest rates have been on the rise due to the government's pressure on household loan management, raising additional interest rates or lowering reduction rates.

[Banking official: In order for banks to now manage the risk of loans, interest rates are the way to reduce the reduction interest rates.]

Although the surge in mortgage loans has been dampened this month, it is unlikely that the banking sector will lower lending rates as it is still hard to rest assured.

[Lee Chang-yong / Governor of the Bank of Korea (last 11th): I think the bank itself is in a situation where it has to risk-manage household loans itself because it has exceeded its target even more.]

The government is also considering additional measures in addition to the second phase of the stress DSR implemented last month.

Financial authorities are considering the timing and intensity of tightening household debt management, including measures to curb excessive supply of jeonse loans.

I'm Lee Hyungwon of YTN.


Video editing: Jung Kook-yoon
Graphics: Lee Ga-eun