Bank lending rates on mortgages fall in April after 6-month upward trend

Bank lending rates on mortgages fall in April after 6-month upward trend

Korean bank mortgage rates fell 0.03 percentage points in April, ending a six-month upward streak driven by government tightening on home purchase loans to cool the property market. For macro-aware tech managers, the BOK's seventh consecutive rate hold signals sustained tight credit conditions in South Korea, with limited near-term relief on corporate borrowing costs (flat at 4.2%).