First home loan rates are continuing to rise across China as banks begin to exhaust their annual lending quotas.
Data via Rong360 (a Beijing based financial info company) reports:
- None of the 23 banks monitored by Rong360 are offering first home loan rates below the benchmark
- 2 are on par with benchmark
- 1 has suspended mortgage lending completely
- 9 have raised first home-loan rates 5% above benchmark
- 8 are at 10% above
- 3 are + 20%
- All of the banks monitored by Rong360 currently require a 70% down payment for second homes loans
