Home mortgage rates in major Chinese cities hit lowest since 2019 in July – research
STOCKS
Home mortgage rates in major Chinese cities hit lowest since 2019 in July – research
STOCKS

Home mortgage rates in major Chinese cities hit lowest since 2019 in July – research

 

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

 

 

Mainstream home mortgage rate for first-time homebuyers in China’s 103 major cities was 4.35% in July and the rare for second-home buyers was 5.07%, according to date compiled by Beike Research Institute. 

The rates fell by 7 percentage points and 2 percentage points from the previous month, both hitting the lowest levels since 2019, said Beike.

Average waiting time for mortgage loan dispersement was 25 days in July, shortening by 4 days from a month earlier, showed the data. 

So far, 74 of the 103 cities have lowered mortgage rates to lower limit – 4.25% for first-time home buyers and 5.05% for second-home buyers, shows the data.