Already 36%, and in 2022 – 64%. And korea telegram data although the policy vector has chang since mid-2023, the rate has been rais to 50%, annual inflation has not yet fallen below 60%. Monthly price growth has slow to 2-3% in recent months, but this is still 24-36% on an annualiz basis. And the rate still remains 50%.
— We now also give mortgages at 22% and more, and consumer loans at 30-40%. Why did the Central Bank push through the abolition of preferential mortgages?
The broad preferential mortgage program
at 8% was not cancell. It expir on July 1 of this year after being extend several times beyond the originally intend, much more limit terms. Our position is that the broad preferential mortgage program was appropriate only as a short-term temporary measure to support demand for housing during the acute phase of the pandemic in 2020 or at the peak of uncertainty after the shocks of spring 2022.
As a permanent measure, it is not capable
of increasing the affordability exceptional customer service: how to train your team? of housing. When a state subsidy is available to an unlimit number of people, all alb directory economic benefits are eventually completely eaten up by rising prices. This, by the way, is true not only for housing, but for any other market.