■ Host: Anchor Ji-woong Jeong ■ Guest: Economic commentator Cheol-jin Jeong The text below may differ from the actual broadcast content. For more accurate information, please check the broadcast. When quoting, please specify [YTN News NOW]. [Anchor] Recently, as apartment sales in Seoul have increased and prices have rebounded, the theory of a real estate bottom is emerging. Also, the KOSPI index is aiming to recapture the 2,800 mark. We will discuss various topics with economic commentator Cheol-jin Jeong about the variables in our economy. Welcome. It is said that apartment prices in Seoul have recently started to rise again. They say that they have turned upward again after 6 months? [Cheol-jin Jeong] This varies depending on the period for which statistics are collected. One thing that is certain is that there is no longer a place that calculates Seoul apartment prices as falling. According to the Seoul Real Estate Information Center, statistics have been collected recently that they have risen for the first time in 7 months. However, according to reliable data from the Korea Real Estate Board, Seoul housing prices have already turned upward since April. However, what gives us a lot of illusions is that only Seoul is rising nationwide. So, nationwide, housing prices have been falling for 6 months in a row. If we break it down, Incheon has barely started to rise after 7 months, and the metropolitan area has been falling for 6 months. However, as Seoul has been rapidly rising for the past 2 months, it seems that housing prices are rising again overall. As I mentioned earlier, according to the statistics of Real Estate Plaza, there is an expression that it is the first increase in 7 months, but if you look at it broadly, there are many places that have been rising since April and May. So, if you look at Seoul apartments, you can say that they have already started to rise for the past 2 months. [Anchor] Depending on the statistics, the period may differ, but it is clear that Seoul apartment sale prices have turned upward. The current expectation of an interest rate cut is also being pointed out as a factor in the rise in Seoul apartment sale prices. [Jeong Cheol-jin] Yes. Among the various factors that raise and lower real estate and housing prices, the housing loan interest rate accounts for a significant portion. When it comes to housing prices, government regulations are important. It depends on the economy, but the interest rates that borrowers directly feel are very important. Mortgage interest rates have been falling rapidly recently. You may be wondering, the US hasn’t cut interest rates yet, and our Bank of Korea has no plans to cut interest rates for the time being, so why are mortgage interest rates falling? That’s right. The Fed and the Bank of Korea are raising and lowering the base rate. The market interest rates determined in the market are actually reflected in advance. So, in the current market, the US will eventually lower interest rates, right? The Bank of Korea will eventually lower interest rates, right? That’s why bank bond interest rates are falling so quickly. So, as you said, if you look at the mortgage rates that came out this week, even floating rates are in the 3-5% range, but the ones that have fallen more dramatically are the mixed fixed rates. In our country, there are no fixed rates for 10 years or 20 years, and among these mixed rates that are fixed for 5 years and then changed to floating, Shinhan Bank has the first two digits. [Anchor] It’s entered the 2% range, right? [Jeong Cheol-jin] That’s right. Since 2.9% came out, if Shinhan Bank among the five major banks is the first to show a 2% rate in this hybrid interest rate, other banks will also compete with each other. Because they will flock to it. That is why the 2% rate in the front line... (omitted) ▶ Original article: https://www.ytn.co.kr/_ln/0102_202406... ▶ Report: https://mj.ytn.co.kr/mj/mj_write.php ▣ Subscribe to YTN YouTube channel: http://goo.gl/Ytb5SZ ⓒ YTN Unauthorized reproduction, redistribution, and use of AI data are prohibited.