Special BoGeumjari Loan Interest Rate Increased by 0.25%p Starting November 3
Price Increase After Two Months Following September
Korea Housing Finance Corporation (HF) announced on the 30th that it will raise the special BoGeumjari Loan interest rates by 0.25 percentage points starting from the 3rd of next month. This is the second increase in two months, following the hike in September.
Accordingly, the preferential interest rates for those with a housing price of 600 million KRW and a combined annual income of 100 million KRW or less for couples will rise to 4.50% per annum (10 years) to 4.80% per annum (50 years).
For low-income youth, newlywed households, and socially disadvantaged groups, if they receive an additional preferential interest rate of up to 0.8 percentage points, the lowest rates will be 3.70% per annum (10 years) to 4.00% per annum (50 years).
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A representative from HF stated, "Due to concerns over prolonged tightening, geopolitical risks stemming from the Middle East, rising government bond yields, and increased uncertainty in the funding market, the interest rate hike is inevitable."
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