First Home Loan Rates Rise to 5.47% in August

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Home loan rates across key urban centres in China saw sizeable gains in the month of August.

China’s average nationwide first home loan rate was 5.47% in August following an on-month rise of three basis points, according to the August Home Loan Market Report released by the Rong360 Big Data Research Institute (融360大数据研究院) on 11 September.

The average nationwide pre-owned home loan rate was 5.78%, for an on-month rise of two basis points.

The Rong360 report points out that both the scope of the home loan rate rise as well as the number of cities that saw gains both increased in August.

17 out of the 35 Chinese cities monitored by Rong360 saw first home loan rate increases last month.

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