KHFC cut the mortgage rate from 6.7% to 6.45% Mortgage rate: 6.45% (0.25% cut from 6.7%) -If the borrower assumes the expense for registering the mortgage and interest rate discount option fee, the mortgage rate could be as low as 6.25% -If the borrower is eligible for a taxable income reduction with the expected effect of lowering the mortgage rate by 1%, the effective mortgage rate could be just slightly over 5% Effective date: August 17 Mortgages: loans to be originated starting August 17th -Reason for mortgage rate cut To reflect the downward trend in market interest rates -Expected effect of mortgage rate cut Lessening the repayment burden on borrowers If the new mortgage rate is applied to a borrower who takes out a 100 million won 20-year mortgage, the first year interest payment burden for a borrower is reduced by 250,000 won ( 500,000 won for a 200 million won mortgage) -Helps bring about a soft landing in the real estate market by providing housing finance for actual homebuyers Future mortgage rate adjustment KHFC will flexibly adjust the mortgage rate according to the movements of the market interest rates