China's home mortgage rates declined in January for the second straight month as the housing market cooled further after months of restrictions on the sector and several rounds of cuts in the amount of reserves commercial banks are required to hold increased cash available for banks.
According to the real estate data provider Rong360, China's average home mortgage loans for first-time home buyers and second-time home buyers declined by 0.35 per cent and 0.02 per cent month-on-month in January 2019 to 5.66 per cent and 6.02 per cent, respectively.
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