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Commercial banks' mortgage interest rates jumped nearly 8%.

As the interest rate on jeonse loans has risen to a maximum of 7%, the interest burden on the common people is growing. The problem is that it may rise further in the future.



This is reporter Nam Jung-min's report.



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Commercial banks have raised their mortgage interest rates all at once.



As the Cofix, which is the standard for the interest rate of the bank, jumped 0.36%p, the interest rate of the bank's bank, KB Kookmin Bank, was raised to 6.27-7.67% and Woori Bank's 6.92-7.72%.



With the lowest interest rate at 6%, the burden on borrowers has become much greater.



[Mr. Kim / Mortgage borrower (purchased a house in 2019): The money to be repaid (principal and interest) has almost doubled.

Income doesn't increase that much.

Most of the money that can be spent is going to pay off the loan.]



The problem is that interest rates are highly likely to soar.



The Fed has already raised its interest rate forecast for next year to the 5% range, and it is highly likely that the Korean base rate will be raised further.



The prevailing view is that the Judamdae interest rate will break through the 8% line in the first quarter of next year.



[Hwang Sewoon/Senior Research Fellow, Capital Market Institute: (The lower the income, the more likely it is that the burden of repayment of principal and interest will increase exponentially.

It is highly likely that delinquencies and mortgage defaults will occur intensively here.]



Tenants are also taking a hit as the highest interest rate on leasehold loans affected by COFIX has risen to the 7% level.



[Mr. Lee / Lease loan borrower: While extending the charter (loan interest rate), he received 2.7%, but this time it was raised to 5%.

Before that, I paid 580,000 won (monthly) in interest on a loan, but now I am paying over 1 million won.]



In the midst of this, the International Monetary Fund and the IMF warned that real estate prices in Korea, which had bubbled due to a surge in prices during the corona, could be subject to a large adjustment. I did.



A sharp rise in interest rates is expected to further drive down house prices.