Fixed-rate mortgage rates at South Korea's five largest commercial banks have fallen sharply since Oct. 1, and at some lenders now sit below floating rates. Five-year hybrid mortgage rates ranged from 4.46% to 6.44% as of the 6th, down from 4.91% to 6.90%, while six-month floating rates shifted to 4.40%-6.47% from 4.35%-6.52%. At Hana Bank, hybrid rates were 0.014 percentage point below floating rates at both ends of the range, reversing the relationship seen a month earlier. The change reflects a 0.469 percentage-point decline in five-year bank bond yields, the main benchmark for fixed loans, while six-month yields rose 0.053 percentage point. Floating-rate mortgages accounted for 65.8% of newly extended mortgages in September, but lenders say demand could shift toward fixed products as the rate gap narrows.