South Korea's Housing Finance Corp Raises Mortgage Rates by 0.2% in Regulated Areas From Late July

According to sources in Korea's financial sector, the Korean Housing Finance Corporation will raise the additional interest rate by 0.2 percentage points for Bogeumjari loans (policy mortgages for households with combined annual income below 70 million won and properties valued under 600 million won) in regulated areas, effective from late July.

The increase applies to Seoul and 12 regions in Gyeonggi Province, including Sungnam, Suwon, and Seongnam. Current Bogeumjari loan rates stand at 4.90% for 10-year terms and 5.20% for 50-year terms.