주택담보대출 규제의 정책적 시사점

The policy implication of Mortgage loans regulation

This study analyzes the determinants of household mortgage loans and the influence of variables on mortgage lending, and shows that the increase in mortgage lending is caused by the implementation of national economic policies and housing policies and is not a major risk factor for increasing household debt. For this, multiple regression analysis was performed with the mortgage balance as a dependent variable and mortgage interest, apartment real price index, and housing completion performance as independent variables. As a result, mortgage loans is positive correlation with apartment real transaction price index and housing construction performance. And mortgage loans is negative correlation with mortgage rates. In other words, factors affecting mortgages are mortgage rate cuts, new housing supply through redevelopment and reconstruction of poor old housing and a new sale of construction companies. Households are estimated to use mortgage loans to improve their living standards. The study also found that the increase in mortgage loans is attributable to the increase in housing prices due to the increase in new housing supply and the rise in housing prices. First, for this study, it is noteworthy to mention that regulations on household debts should be focused on credit loans, life-funding loans and self-employed loans that are vulnerable to external shocks. Second, In order to improve the ability of financial institutions loan assessment capabilities, the regulations on mortgage loans should be left to autonomous decision-making by lending institutions as much as possible. Third, LTV ratio of subprime mortgage must be fully entrusted to its respective financial institutions, to freely execute their tasks in helping for households with no regular income.