First Mortgage Average Climbs to 5.69pc, 20 Straight Months With Increase

First mortgage average rose from 5.67 percent in July to 5.69 percent in August.

iFeng: 全国首套房贷利率连涨20个月 这座城市再度领跑
Zhongxin Jingwei Client September 8 (Dong Xiangyi) Since the beginning of this year, in the face of increasingly strict regulation and control policies, the country's housing prices have remained stable, and the interest rate of mortgage loans remains high. According to the latest report released by Rong 360, in August this year, the average interest rate of the first home loan in the country kept rising, reaching 5.69%, up 0.35% from the previous month and up 11.13% from the same period of last year, rising for 20 consecutive months. The report believes that the current mortgage market policy is still tight, and the future mortgage interest rate may keep rising.
Analysts see rates rising with the government still tightening housing regulations in some markets.
Li 360, the analyst of Rongfang 360, said to the China-Singapore Jingwei client that in August this year, a number of new regulations were introduced, and the control content mainly involved renting loans, housing-enterprise illegal activities, and shanty renovation.

"The current mortgage market policy is still dominated by tight regulation. The interest rate, down payment, and loan review are all in a strict state. It is expected that the number of banks with lower interest rates will be further reduced, and the number of banks that are flat and rising will increase." Li only pointed out that with the increase in the number of banks with interest rates, interest rates will show a gradual stability trend. Combined with the characteristics of the monitored interest rate data, the probability of interest rates continuing to rise at a low rate is extremely high.

Huang Zhilong, director of the Macroeconomic Research Center of Suning Financial Research Institute, also told the media that within this year, the overall loosening of the mortgage policy is less likely. From the spirit of the recent Politburo meeting, the central government’s attitude of curbing housing prices is very clear. Once the mortgage loan is loose, it will increase the pressure on housing prices, which will increase the pressure on house price regulation.

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