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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] Shinhan Bank has announced another increase in mortgage rates, marking the fifth hike in just one month. Effective from the 16th, the bank will raise mortgage rates, including those for jeonse loans, by up to 0.5 percentage points.
The new rates will see an increase of 0.30% to 0.35% depending on the maturity of benchmark bonds, while jeonse loans will see a rise of 0.20% to 0.35%, depending on the guarantee institutions (Korea Housing Finance Corporation and Seoul Guarantee Insurance) and bond maturity. The rate hike for refinancing loans will reach 0.5 percentage points.
A Shinhan Bank representative stated, "This rate increase is necessary due to the rapid rise in household debt and the need to stabilize loan management."
Previously, Shinhan Bank raised its bond rates on the 15th and 22nd of last month by 0.05 percentage points each, and increased mortgage rates by up to 0.3 percentage points on the 29th. Another 0.3 percentage point increase occurred on the 7th. With this new adjustment, the bank will have raised its rates five times in about a month.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
