Jianpu Technology (NYSE:JT)
BEIJING, 中国, December 20, 2020 /EINPresswire.com/ — Ranking: The Lists of Top 10 Cities with the Lowest and Highest First-Home Mortgage Rates Remained Almost Unchanged
In November 2020 (with data in statistics collected from October 20, 2020 to November 18, 2020), according to surveillance data from Rong360 Jianpu Technology (NYSE: JT) Big Data Institute: the lists of top 10 cities with the lowest and highest first-home mortgage rates were almost the same. Although the rankings of top 10 cities with the highest first-home mortgage rate had a slight change, Chengdu still sat atop the list with the highest rate for first-time homebuyers.
Trends: Mortgage Rates Remained Stable by Year-end; More Regions Tightened Policies on Housing Provident Fund Loans
Overall, the nationwide mortgage rate market remained stable in November. Except large fluctuations in mortgage rates of Shijiazhuang, Suzhou and Zhengzhou, many other regions only had slight adjustments. In addition, some regions kept stable mortgage rates as a whole, but banks in the regions increased or decreased their own rates based on their conditions.
In terms of housing mortgage policies, more and more cities tightened rules over housing provident fund loans. Following Dongguan, Hefei, Wuxi, Zhengzhou, Changchun, etc., Nantong in Jiangsu province and Anshan in Liaoning province also adjusted related policies in November. For example, Nantong set stricter criteria to recognize the purchases of the first house while it prohibited providing housing provident fund loans for working families to buy a third house or more. Anshan adjusted housing provident fund loan policies from three respects, including the amount and proportion of the housing provident fund loans, rules for marital changes and the scope of transactions as well as requirements for employees who pay the provident fund in other cities. In addition, the Dongguan Housing Provident Fund Management Center in November lowered a “liquidity adjustment coefficient” from 0.8 to 0.6 for a situation when the amount of outstanding housing provident fund loans in the region is more than 90% but less than or equal to 95% of that of outstanding provident fund payments, as a means to reduce home loans that can be borrowed by people.
The People’s Bank of China (PBOC) in November kept the rate on one-year medium-term lending facility (MLF) the same as the previous level, thus loan prime rate (LPR) quotation is less likely to change. In December, nationwide mortgage rates are very likely to remain stable, but we could not exclude the possibility that major changes in mortgage policies of certain cities at the end of the year would affect the national average level of home loan rates.