After the Spring Festival, the average interest rate on the national mortgage continued to rise. According to the latest report released by Rongrong 360, in February 2018, the average interest rate for the first mortgage loan in the country was 5.46%, which was equivalent to 1.114 times the benchmark interest rate, which was 0.55% higher than in January of 2018; the average loan interest rate of the first suite in February last year was 4.47%. It rose 22.15%. It is worth noting that, after the Spring Festival in previous years, various bank loan lines were relatively abundant, but bank loan interest rates across the country this year have seen a "surge". According to industry sources, the national mortgage market will continue to tighten in the future.
The rise in mortgage interest rates does not only occur in first-tier cities. The data shows that among the 35 monitored cities, the lowest average interest rate for first-home loans was 5.06% in Shanghai, and the highest was 5.92% in Zhengzhou. The average interest rate for the first suite loan in the city of Guangzhou, Shenzhen and Shenzhen was between 5.06% and 5.44%. Among them, Beijing was 5.33%, which was the same as last month, Guangzhou was 5.37% and Shenzhen was 5.44%.
At the same time, 15 out of the 19 major banks had their lending rates for the first suite surpassed the benchmark by 10%, up from 4 in the previous month. In February of this year, the average interest rate of the bank’s first home loan was 1.063 times the benchmark’s average, and the highest was 1.16 times the benchmark’s. The average interest rate of the first four housing loan lines of ICBC, Agricultural Bank of China, Bank of China, and China Construction Bank ranked at 8% to 10%. There was no change from the previous month.
Financial 360 analysts believe that, from an overall perspective, second- and third-tier cities’ mortgage growth rate is higher than that of first-tier cities. On the one hand, some second-tier and third-tier cities have introduced talent introduction policies and continue to attract people to the local area, resulting in a portion of purchase demand; On the one hand, the bank’s capital costs have risen, and it has to make up for the loss in profits by adjusting the business ratio and mortgage interest rates. In the long run, it is expected that the mortgage interest rates in Tier 1 and Tier 2 cities will continue to differentiate and increase.