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. Fantastic blog! Do you have any tips and hints for aspiring writers? I’m planning to start my own site soon but I’m a little lost on everything. Would you propose starting with a free platform like Wordpress or go for a paid option? There are so many options out there that I’m totally overwhelmed .. Any ideas? Thank you!|

  2. Hello I am so glad I found your weblog, I really found you by mistake, while I was looking on Aol for something else, Regardless I am here now and would just like to say kudos for a incredible post and a all round thrilling blog (I also love the theme/design), I don’t have time to read through it all at the minute but I have saved it and also added in your RSS feeds, so when I have time I will be back to read a great deal more, Please do keep up the awesome work.|

  3. Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You clearly know what youre talking about, why waste your intelligence on just posting videos to your site when you could be giving us something enlightening to read?|

  4. You really make it seem so easy with your presentation but I find this topic to be really something that I feel I would by no means understand. It sort of feels too complex and very extensive for me. I’m looking ahead in your next post, I will attempt to get the dangle of it!|

  5. My brother suggested I might like this blog. He was entirely right. This post truly made my day. You cann’t imagine just how much time I had spent for this info! Thanks!|

  6. Hey there this is kinda of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML. I’m starting a blog soon but have no coding skills so I wanted to get guidance from someone with experience. Any help would be greatly appreciated!|