▲ This photo taken Aug. 16, 2026, shows automated teller machines of local commercial banks in downtown Seoul. (Yonhap)

SEOUL, Aug. 26 (Yonhap) -- Banks' household mortgage loan rates rose for the third consecutive month to the highest point in two years and eight months in July on rising market interest, central bank data showed Wednesday.

The average interest rate on new bank loans stood at 4.27 percent last month, down 0.04 percentage point from a month earlier, according to the data from the Bank of Korea (BOK).

The average rate on corporate loans fell 0.07 percentage point to 4.2 percent, while the rate on new household loans rose 0.14 percentage point to 4.64 percent.

The average rate on household mortgage loans increased 0.12 percentage point to 4.48 percent in July, marking the highest level since November 2023, when the rate averaged 4.48 percent.

The average rate on non-mortgage household loans stood at 5.97 percent, up 0.25 percentage point from a month earlier.

The BOK said retail lending rates have been rising in recent months as market interest rates increased.

Last month, the central bank delivered the first rate hike in 3 1/2 years, raising the benchmark rate by 25 basis points to 2.75 percent.

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