'Reference for Variable Interest Rates on Mortgage Loans' COFIX Declines for 6 Consecutive Months
The COFIX (Cost of Funds Index), which serves as the benchmark for variable interest rates on mortgage loans in the banking sector, has fallen for six consecutive months.
According to the Korea Federation of Banks on the 15th, the COFIX based on new transactions in March was recorded at 2.84%, down 0.13 percentage points from 2.97% in February, marking a decline for six straight months. Last month, it dropped into the 2% range for the first time in two years and six months since August 2022. The COFIX based on outstanding balances also fell by 0.06 percentage points from 3.36% to 3.3%.
Hot Picks Today
"Only Two Per Person" Garbage Bag Crisis Was Just Yesterday... Japan Also Faces Shortage Anxiety
- "Samsung Electronics Employee with 100 Million Won Salary Receiving 600 Million Won Bonus... Estimated Tax Revealed"
- Lived as Family for Over 30 Years... Daughter-in-Law Cast Aside After Husband's Death
- 'Will Demand Finally Decline Due to High Prices?'... "I'll Just Enjoy Nearby Trips" as Japan and China See a Surge
- "Wore It Once, Then This? White Spots All Over 4.15 Million Won Prada Jacket... 'Full Refund Ordered'"
COFIX is the weighted average interest rate of funds raised by eight domestic banks, reflecting changes in interest rates of deposit products such as actual deposits, savings, and bank bonds handled by banks. The newly introduced "new outstanding balance-based COFIX," implemented in June 2019, also decreased by 0.09 percentage points from 2.89% to 2.8%.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
