Cheaper Than Banks" Unprecedented Interest Rate Reversal… 'Young-blooded Borrowers' Rush In
An unprecedented phenomenon has occurred where insurance companies' mortgage rates have become lower than those of the top five commercial banks, leading to a surge in mortgage applications to insurance firms. An unprecedented phenomenon has occurred where insurance companies' mortgage rates have become lower than those of the top five commercial banks, leading to a surge in mortgage applications to insurance firms. This situation arises as a "balloon effect," where the demand for loans shifts to the second financial sector due to the financial authorities tightening regulations on banks. With authorities also demanding the second financial sector manage household debt, insurance companies have hurriedly raised their loan interest rates. This situation is leading to significant side effects of government-controlled interest rates. Mortgage Applications Flooding into Insurance Companies According to the insurance industry on the 28th, the number of mortgage application...