Caixin
Dec 12, 2018 07:35 PM
ECONOMY

China’s Average Mortgage Rate Stops Rising After 22 Straight Months

Analysts predicted that there is now less of a chance that mortgage rates will rise in the near future. Photo: VCG
Analysts predicted that there is now less of a chance that mortgage rates will rise in the near future. Photo: VCG

China’s average mortgage rate stopped climbing last month after rising for 22 straight months.

Last month, first-time homebuyers could borrow at an average interest rate of 5.71%, the same as in October, according to a report by online financial service platform Rong360. For mortgages on second homes, the average interest rate fell to 6.06% from October’s 6.07%.

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