Household Loan Rates Rise 0.03 Percentage Points to 4.46% Annually

In May, the average interest rate on new household loans taken from banks rose to 4.46% annually, up 0.03 percentage points from the previous month. The rebound in household loan rates after just one month was influenced by increases in both mortgage loan rates and personal credit loan rates. Mortgage loan rates saw a slight increase of 0.01 percentage points from the previous month, reaching 4.32%.

As of May, the proportion of fixed-rate loans among household loans stood at 24.6%, a decrease of 3.2 percentage points from the prior month. Within mortgage loans, the proportion of fixed-rate loans fell by 6.2 percentage points month-on-month to 41.6%, marking the lowest level in approximately five years since June 2021.

As of May, the interest rate on corporate loans from deposit banks was 4.13% annually, down 0.01 percentage points from the previous month. The interest rate on savings deposits rose by 0.01 percentage points from the prior month to 2.93%.