In Beijing rates for first home loans have fallen to 5.15% at many banks, while the rate for second home loans has fallen to 5.65%. In the Shanghai area first home loan rates fell to 4.95% at multiple banks, while for second home loan rates in general stand at around 5.65%.
Shenzhen has seen first home loan rates fall to around 4.9%, while second home loan rates are at 5.2%. The cuts come in the immediate wake of declines in China’s benchmark loan prime rate (LPR) which was released on 20 January 2022.
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