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China’s mortgage rate drops for the first time in 23 months

China’s average mortgage rate for first-time home purchases declined 0.53 per cent in December from the previous month to 5.68 per cent, falling for the first time in 23 months, according to Rong360, a provider of information about financing and loan products.

That comes after the average mortgage rate remained unchanged in November month-on-month, ending a 22-month climbing streak.

According to the data, 17 cities of the 35 cities tracked by the Rong360 saw average mortgage rates for first-time home buyers decline in December, including the four first-tier cities and most . . .

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