The average lending rate of major banks in South Korea for mortgage loans increased from a month earlier in September, data showed Monday.
COFIX, or the Cost of Funds Index, a benchmark lending rate for mortgage loans, came to 3.82 percent last month, up 0.16 percentage point from a month earlier, according to the data from the Korea Federation of Banks.
The COFIX rate for outstanding loans also gained 0.02 percentage point to 3.88 percent over the cited period.
COFIX is calculated based on costs of funding information provided by eight major local lenders in the country, including Shinhan, Woori, KEB Hana and KB Kookmin banks.
The Bank of Korea is widely expected to keep its key rate at 3.5 percent when it holds its rate-setting meeting Thursday.
Source: Yonhap News Agency