Bank rates on fresh loans up for 3rd month in November

Bank rates on fresh loans up for 3rd month in November

The average lending rate of major banks in Korea increased for the third consecutive month in November, data showed Monday. COFIX, or the Cost of Funds Index, a benchmark lending rate for mortgage loans, came to 2.81 percent last month, up 0.24 percentage point from the previous month, according to the data from the Korea Federation of Banks. COFIX is calculated based on the funding costs of eight domestic banks in Korea. They include Nonghyup B…