For first-tier cities including Beijing, Shanghai, Guangzhou and Shenzhen, the rate of first home loans were in the range of 5.09% to 5.57%. Photo: iStock

The average interest rate for first home loans continued to decline steadily in January, following a 0.53% month-on-month decrease in December, Yicai.com reported.

The average lending rate for first home buyers in January was 5.66% nation-wide, which is 1.155 times the benchmark interest rate, decreasing by 0.35% from December, according to data released by Rong360 Big Data Institute.

For first-tier cities including Beijing, Shanghai, Guangzhou and Shenzhen, the rate of first home loans were in the range of 5.09% to 5.57%.

However, second-tier cities saw a large correction. For example, in Tianjin, many banks cut mortgage interest rates, and lowered first home loan rates to 5% above the benchmark interest rate, compared to the previous 15% above the benchmark.

It is expected that more cities will see a downward adjustment of their first home lending rate, and the decrease will vary from city to city, said Li Weiyi, analyst at Rong360.

Join the Conversation

450 Comments

  1. You can certainly see your expertise within the article you write. The arena hopes for more passionate writers such as you who aren’t afraid to say how they believe. All the time follow your heart.|

  2. Hey there! This is my first visit to your blog! We are a team of volunteers and starting a new initiative in a community in the same niche. Your blog provided us useful information to work on. You have done a wonderful job!|

  3. Heya i’m for the first time here. I came across this board and I to find It really useful & it helped me out much. I hope to provide something again and aid others like you helped me.|

  4. Thank you for the auspicious writeup. It if truth be told was once a amusement account it. Look complex to far introduced agreeable from you! However, how can we keep up a correspondence?|

  5. Thanks for ones marvelous posting! I genuinely enjoyed reading it, you might be a great author. I will make sure to bookmark your blog and definitely will come back very soon. I want to encourage that you continue your great work, have a nice holiday weekend!|

  6. Wonderful goods from you, man. I’ve have in mind your stuff previous to and you are simply too magnificent. I really like what you’ve got here, certainly like what you’re stating and the way in which you say it. You’re making it enjoyable and you still take care of to keep it wise. I can’t wait to read much more from you. This is actually a great web site.|

  7. Hey just wanted to give you a quick heads up and let you know a few of the images aren’t loading correctly. I’m not sure why but I think its a linking issue. I’ve tried it in two different web browsers and both show the same results.|

  8. Do you mind if I quote a couple of your articles as long as I provide credit and sources back to your blog? My blog is in the exact same niche as yours and my visitors would truly benefit from some of the information you present here. Please let me know if this ok with you. Thank you!|