Despite Soaring Home Prices, Mortgage Loans Surge by 5.2 Trillion Won
home prices in Seoul have surged Recently, home prices in Seoul have surged, leading to a significant increase in the balance of mortgage loans from major banks. Despite efforts by banks to tighten mortgage loan conditions, the demand for loans remains high due to expectations of continued home price increases. This month, the balance of mortgage loans from major banks has increased by over 5 trillion won, driven by the ongoing rise in home prices in Seoul. According to data released on the 28th, the balance of household loans from the top five banks (KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup) reached 713.3072 trillion won as of the 25th, up by 4.7349 trillion won from the end of June, when the balance was 708.5723 trillion won. The increase this month exceeds 5 trillion won, marking the largest monthly rise since July 2021. In particular, the balance of mortgage loans, which was 552.1526 trillion won at the end of June, has increased by 5.2589 trillion won by the 25th of this...