Finance
November COFIX up 0.24 point; mortgage variable rates to rise again
South Korea’s COFIX funding cost index, used as a benchmark for banks’ floating-rate mortgage loans, rose for a third consecutive month. The Korea Federation of Banks said the November COFIX based on new loans came in at 2.81 percent, up 0.24 percentage point from October. The balance-based COFIX slipped 0.01 point to 2.83 percent. Banks are set to reflect the new rate in new mortgage loans as early as Dec. 16.
