Household loan interest rates in South Korea have risen for four consecutive months, with housing loan rates reaching their highest level in over a year.
Household loan interest rates in South Korea have continued to climb for the fourth month in a row, driven by rising market interest rates. According to the Bank of Korea's statistics released on the 27th, the weighted average household loan interest rate for new transactions increased to 4.50% in January, marking a 0.15 percentage point rise from the previous month. This surge reflects the highest level since March of last year, when the rate hit 4.51%. Among household loans, the rate for housing mortgage loans (4.29%) and jeonse loan rates (4.06%) also rose, indicating a shift in borrowing behavior amid changing interest rates.
