First Home Loan Rates in China Fall 140BP in 2022

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Rates for first home loans in China have dropped by over one percentage points since the start of 2022, amidst a push from financial regulators to support the real estate sector by reducing borrowing costs.

As of the end of November, the average first home loan rate in China stood at 4.17%, according to data from Rong360’s survey of 42 major Chinese cities.

The print is 7 basis points above the bottom threshold for nationwide home loan rates in China, and marks a decline of 140 basis points since the start of the year.

The average second home loan rate was 4.95%, for a cumulative decline of 90 basis points in 2022.