Sales of Bogeumjari Loans Increase 38%

  The sales of bogeumjari loans (long-term, fixed-rate mortgage loans) rebounded in October from the preceding month to exceed KRW300 billion.

  According to KHFC, it extended KRW 344.4 billion in bogeumjari loans in October 2007. This represented growth of 37.8% compared to KRW249.9 billion in September. This is the second highest sales figure after July (KRW360.2 billion)

  The issuance of e-mortgage loans, an internet loan product carrying a 0.2% point interest rate discount benefit, totaled KRW111.6 billion and accounted for 32.4% of the KRW344.3 billion in total bogeumjari loans extended in October.

  For the first ten months of this year, a total of KRW1.2197 trillion was extended in e-mortgage loans, accounting for 43.3% of total bogeumjari loan lending (KRW2.8173 trillion).

   Meanwhile, KHFC also offers "preferential rate boguemjari loans", which offer a discount on interest of as much as 1% to non-home owning households earning less than KRW20 million annually. Since their resumption on August 27, about KRW14.9 billion has been provided within about two months.