Korea locks January home loan rates between 3.95% and 4.25%

The Korea Housing Finance Corporation announced on the 30th that it will freeze the interest rate for the long-term, fixed-rate, partitioning repayment housing mortgage loan 'Bogumjari Loan' for January 2024.

Interest rates ranging from 3.95% (10 years) to 4.25% (50 years) are applied based on the 'Akkim e-Bogumjari Loan.'

Low-income youth, newlywed households, socially disadvantaged groups (such as the disabled and single-parent families), and victims of jeonse fraud can receive an additional preferential interest rate (up to 1.0 percentage point), resulting in a minimum interest rate of 2.95% (10 years) to 3.25% (50 years).