Mortgage Rate for China’s First-Time Home Buyers Hits All-Time High in August

Published: Sep 25, 2017 11:01

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Mortgage rates in China kept rising along with tighter control over property market.

SHANGHAI, Sept. 25 (SMM) – Mortgage rates in China kept rising along with tighter control over property market.

According to data from Rong360, the average mortgage rate for first-time home buyers hit a record high of 5.12% in August, marking the first time the figure breaks through 5% since 2016.

The rate had been rising for eight months in a row.

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