The Bank of Korea Monetary Policy Committee is expected to raise the base rate, raising concerns about an increase in interest burdens on mortgage loans. According to the BOK's estimate, if the base rate rises by 0.25 percentage points, mortgage loan interest will increase by KRW 1.8 trillion annually, and the average interest burden per borrower will increase by KRW 296,000. If interest rate hikes continue, the interest burden is expected to grow further. In particular, vulnerable borrowers are likely to be hit harder by rising loan interest rates, and the possibility of an increase in loan delinquency rates is also high. The burden on borrowers who have seen a surge in other loans due to 'debt-driven' overheating is also expected to increase.
