This study analyzed how asymmetry appears in the interest rate pass-through from the Cost of Funds Index (COFIX) rate to the mortgage rate. The analysis model is the threshold error correction model, and the threshold variable and threshold value are set to examine the asymmetry according to the direction of the change in the COFIX interest rate and the size of the change in the interest rate. The data period is from February 2010 to June 2022. The analysis results are as follows. First, there is a cointegration relationship between the COFIX rate and the mortgage rate, that is, a long-run equilibrium relationship. However, this long-run equilibrium relationship does not appear when the COFIX rate rises. Second, when the fluctuation range of the COFIX interest rate is small, pass-through to the housing mortgage interest rate does not occur. Third, the pass-through appears larger when the COFIX rate falls in the short term and when the COFIX rate rises in the long term. The effect of COFIX rate change on mortgage rate over a 12-month period is 102% reflected in interest rate hikes and 89% reflected in interest rate cuts.