New mortgage loans per borrower hit record high in Q1: BOK

household loans-Q1 tally

New mortgage loans per borrower hit record high in Q1: BOK

SEOUL, May 22 (Yonhap) -- New mortgage loans per borrower rose to a record high in the first quarter despite the government's tightened regulations to cool the overheated housing market, central bank data said Friday.

Fresh mortgage lending per borrower averaged 229.39 million won (US$151,800) during the January-March period, up 16.53 million won from three months earlier, according to the data by the Bank of Korea (BOK).

It marked the highest level since the BOK started compiling such data in 2013.

New household lending per borrower, which includes mortgage loans, rose 990,000 won to 35.42 million won over the cited period.

The BOK attributed the increase in new household and mortgage lending to a rise in housing transactions despite a series of government measures aimed at stabilizing the property market.

By age group, new mortgage loans rose across nearly all brackets in the first quarter, with borrowers in their 30s posting a 34.57 million-won increase and those in their 20s an 18.11 million-won gain.

By region, fresh mortgage lending in the greater Seoul area rose by 32.48 million won per borrower in the first quarter, followed by the Chungcheong region with 10.19 million won.

This undated file photo shows ATMs of local commercial banks in Seoul. (Yonhap)