The interest rate for mortgages provided by mutual credit institutions in South Korea stood at 5.54 percent in the second quarter of 2023. The interest rate by these mutual credit institutions, a type of non-banking financial institution, rose by more than three percentage points from the first quarter of 2021 to the first quarter of 2023.
Mortgage interest rates by mutual credit institutions in South Korea from 4th quarter 2020 to 2nd quarter 2023
based on new handling amount; mutual finance institution
Supplementary notes
Mutual credit institutions fall under the umbrella of non-bank financial institutions. Much like regular banks, non-bank financial institutions (e.g., mutual savings banks) can perform many tasks such as deposits, installment savings, and loans. However, these non-bank depository institutions cannot perform certain traditional bank tasks, such as foreign exchange.
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Bank of Korea. (July 28, 2023). Mortgage interest rates by mutual credit institutions in South Korea from 4th quarter 2020 to 2nd quarter 2023 [Graph]. In Statista. Retrieved November 23, 2024, from https://www.statista.com/statistics/1401824/south-korea-mutual-finance-institution-mortgage-interest-rate/
Bank of Korea. "Mortgage interest rates by mutual credit institutions in South Korea from 4th quarter 2020 to 2nd quarter 2023." Chart. July 28, 2023. Statista. Accessed November 23, 2024. https://www.statista.com/statistics/1401824/south-korea-mutual-finance-institution-mortgage-interest-rate/
Bank of Korea. (2023). Mortgage interest rates by mutual credit institutions in South Korea from 4th quarter 2020 to 2nd quarter 2023. Statista. Statista Inc.. Accessed: November 23, 2024. https://www.statista.com/statistics/1401824/south-korea-mutual-finance-institution-mortgage-interest-rate/
Bank of Korea. "Mortgage Interest Rates by Mutual Credit Institutions in South Korea from 4th Quarter 2020 to 2nd Quarter 2023." Statista, Statista Inc., 28 Jul 2023, https://www.statista.com/statistics/1401824/south-korea-mutual-finance-institution-mortgage-interest-rate/
Bank of Korea, Mortgage interest rates by mutual credit institutions in South Korea from 4th quarter 2020 to 2nd quarter 2023 Statista, https://www.statista.com/statistics/1401824/south-korea-mutual-finance-institution-mortgage-interest-rate/ (last visited November 23, 2024)
Mortgage interest rates by mutual credit institutions in South Korea from 4th quarter 2020 to 2nd quarter 2023 [Graph], Bank of Korea, July 28, 2023. [Online]. Available: https://www.statista.com/statistics/1401824/south-korea-mutual-finance-institution-mortgage-interest-rate/
