Chinese First Home Loan Rates Rise for Fourth Consecutive Month to 5.51% in September
Average first home loan rates in China posted their fourth consecutive month of increase in September.
Data released by Rong360 on 11 October indicates that in September China’s average first home loan rate was 5.51%, for an on-month rise of 4 basis points, as well as 66 basis points ahead of the loan prime rate (LPR) for the corresponding period.
The average second home loan rate was 5.83% for an on-month rise of 5 basis points, as well as 98 basis points ahead of the LPR.
September marks the fourth consecutive month that China’s average home loan rates have increased.
Amongst first-tier cities Beijing, Shanghai and Guangzhou all saw their average home loan rates increase, while in Shenzhen rates held steady with the previous month.