credit unions

credit unions

Ratio of housing loans issued by commercial banks hits all-time low

1d ago
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가계 대출서 은행 비중 49.1%로 사상 최저 The ratio of Korea's household debt borrowed by local banks has dipped to a record low. The Bank of Korea says household debt came to more than four-hundred-82 billion U.S. dollars as of the end of March, and loans by local banks accounted for just over 49 percent of the total. That's the lowest since related data was first collected in late 2002. The ratio has tumbled as more people have been forced to turn to insurance companies, credit unions and even loan sharks for housing loans. The government announced much stricter mortgage loan screening in February in a bid to slow fast-rising household debt. However,... this prompted low-income families and those with bad credit into the arms of non-banking lenders, which often charge much higher interest rates. Visit ‘Arirang News’ Official Pages Facebook(NEWS): http://www.facebook.com/newsarirang Homepage: http://www.arirang.com Facebook: http://www.facebook.com/arirangtv Twitter: http://twitter.com/arirangworld Instagram: http://instagram.com/arirangworld