Korean banks raise mortgage rates despite looming rate cut

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The story "Korean banks raise mortgage rates despite looming rate cut" was covered 4 hours ago by Korea Economic Daily, a news publisher based in South Korea.

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Korean banks raise mortgage rates despite looming rate cut - Korea Economic Daily

Quick Summary:

South Korean banks are raising mortgage rates again in less than a month as the government strives to curb household debt growth that accelerated at its sharpest pace in three years amid growing expectations of an interest rate cut.

Kookmin Bank is slated to lift interest rates on mortgages and housing rental deposit loans by 0.20 percentage point on Thursday, according to banking industry officials.

Woori Bank will be increasing two-to five-year mortgage and housing rental deposit rates by 0.15-0.20 percentage point on July 24, after lifting the rates by 0.10 percentage point early this month.