Chinese banks raised first home loan rates to 20% above benchmark
Rong360, a Beijing based financial info company reports that the Chinese banks raised their first home loan rates to 20% above benchmark, as they begin to exhaust their annual lending quotas.
None of the 23 banks monitored by Rong360 are offering first home loan rates below the benchmark.
2 are on par with the benchmark.
1 has suspended mortgage lending completely.
9 have raised first home-loan rates 5% above benchmark.
8 are at 10% above.
3 are + 20%.
All of the banks monitored by Rong360 currently require a 70% down payment for second homes loans.