China’s first home loan rates continued to see uninterrupted gains in October while prices remain stable, as regulators maintain strict market controls.
The average first home loan rate in China for the month of October was 5.71%, or 1.165 times the benchmark rate, for an on-month increase of 0.18% and a 7.74% rise compared to the average rate of 5.30% during the same period last year according to data from Rong360.
October marks the 22nd consecutive month that first home loan rates in China have continued to rise.
The ten Chinese cities with the lowest average first home loan rates in October were Shanghai (5.19%), Xiamen (5.39%), Kunming (5.39%), Dalian (5.44%), Urumqi (5.44%), Beijing (5.47%), Fuzhou (5.49%), Taiyuan (5.49%), Haikou (5.58%) and Chongqing (5.62%).
