Lowering the floating interest rate on the mortgage...COFIX DROPPED AGAIN

COFIX, the benchmark for variable interest rates on mortgage loans in the banking sector, is back on the decline.

The Federation of Banks said its COFIX based on new handling was 3.37% in October, down 0.03%p from September.

After rebounding in September, it fell again a month later.

It is analyzed that the rate of bank deposits and installment savings has fallen since the Bank of Korea's base rate cut.

Starting tomorrow (16th), commercial banks will reflect the newly released COFIX interest rate on the floating rate of new mortgage loans.