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. Can I just say what a relief to find a person that really understands what they’re discussing on the web. You certainly know how to bring an issue to light and make it important. More and more people should check this out and understand this side of your story. I was surprised you’re not more popular given that you surely have the gift.|

  2. Pretty great post. I just stumbled upon your blog and wished to mention that I’ve truly enjoyed browsing your weblog posts. After all I will be subscribing on your feed and I hope you write again very soon!|

  3. I like the valuable info you provide in your articles. I will bookmark your blog and check again here regularly. I am quite sure I’ll learn many new stuff right here! Best of luck for the next!|

  4. Hey just wanted to give you a brief 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 browsers and both show the same outcome.|

  5. Attractive portion of content. I simply stumbled upon your weblog and in accession capital to assert that I get actually enjoyed account your blog posts. Anyway I will be subscribing in your augment or even I success you get entry to constantly rapidly.|

  6. Good site you’ve got here.. It’s difficult to find quality writing like yours nowadays. I honestly appreciate individuals like you! Take care!!|

  7. Hey there, You have done an excellent job. I will definitely digg it and personally suggest to my friends. I am sure they will be benefited from this website.|

  8. Fantastic blog! Do you have any suggestions for aspiring writers? I’m hoping to start my own blog soon but I’m a little lost on everything. Would you advise starting with a free platform like Wordpress or go for a paid option? There are so many choices out there that I’m totally confused .. Any recommendations? Thanks!|

  9. Wonderful goods from you, man. I have understand your stuff previous to and you are just too great. I really like what you have acquired here, certainly like what you’re saying and the way in which you say it. You make it entertaining and you still take care of to keep it wise. I cant wait to read far more from you. This is really a terrific site.|