Finance
Cofix rises for fourth straight month, variable mortgage rates set to climb again
South Korea’s Cofix (Cost of Funds Index), a benchmark for banks’ variable-rate mortgage loans, rose for a fourth consecutive month, suggesting additional increases in variable mortgage rates. The Korea Federation of Banks said the July Cofix based on new loans came to 3.18 percent, up 0.13 percentage points from 3.05 percent a month earlier. The balance-based and new-balance-based measures also rose.
