Defence

China first home loan rates fall to £140 in 2022




China’s first home loan rates have fallen by more than one percentage point since the start of 2022 as financial regulators seek to support the property sector by lowering borrowing costs.

As of the end of November, the average interest rate on a first home loan in China was 4.17%, according to data from a Rong360 survey conducted in 42 major Chinese cities.

The 7-basis-point mark is above the lower threshold for China’s nationwide housing loan rates and represents a 140-basis-point decline year-to-date.

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





https://www.chinabankingnews.com/2022/12/01/first-home-loan-rates-in-china-fall-140bp-in-2022/ China first home loan rates fall to £140 in 2022

Back to top button