20676
S. Korea Mortgage Lending Soars
World Economy

S. Korea Mortgage Lending Soars

South Korean banks saw their mortgage lending jump by more than 9 trillion won ($8.01 billion) in June from the previous month, data showed Sunday, due to sharply increased housing transactions, NewsNow reported. As of end-June, the nation’s seven major banks, including Kookmin, Shinhan, Woori and Hana, held 321.04 trillion won in outstanding mortgage loans, down from 330.9 trillion won a month earlier, according to the data by the lenders. The actual amount, however, jumped by 9.3 trillion won last month, given the 19.2 trillion won worth of loans that were transferred to the state housing agency under a government-led loan program aimed at easing household debt risk. In May, bank mortgage lending rose by 6.4 trillion won from the previous month.  It marks the first time since 2010 that mortgage loans have increased by more than 6 trillion won for three straight months. The on-month gain is also much bigger than that of the previous two years when the amount was usually less than 3 trillion won.

Short URL : http://goo.gl/WQ3i1J

You can also read ...

Indonesia’s interest rate rise highlights need for urgent defensive action.
Argentina's return to financial chaos might seem remote to...
Pakistan Retains Stable Rating
Moody’s Investors Service said that Pakistan’s (B3 stable)...
Goldman Says US in Dire Straits
Goldman Sachs’ analysts delivered a weekend note on the United...
Taiwan Economic Sentiment Weakens
Sentiment toward Taiwan’s economy weakened in May after the...
Bruno Le Maire
The stability of the eurozone will be at stake if a populist...
Investments by state enterprise rose 11.5% from a year earlier.
Thailand produced its fastest economic growth in five years in...
Kazakhstan Doing Better Than 5 Central Asian Peers
Despite starting from similar points upon the collapse of the...
Chan Chun Sing (L) and CEO of the Singapore Business Federation Ho Meng Kit,  at The Business Times Leaders Forum on Monday.
With the rise in unilateralism and protectionism, the...

Trending

Googleplus