Top 10 Cities With Lowest First-Time Home Mortgage Rates In March 2021

Top 10 Cities With The Highest First-Time Home Mortgage Rates In March 2021

Jianpu Technology (NYSE: JT)

BEIJING, 中国, May 15, 2021 /EINPresswire.com/ – Ranking: Guangzhou dropped the list of the top ten cities with the lowest mortgage rates.

In March 2021, we saw slight changes in the list of the 10 cities with the lowest mortgage rates of the month: Changchun replaced Guangzhou in the list. Meanwhile, there has been no change in the top 10 cities with the highest mortgage rates. Among the rankings, Huizhou rose to the third highest-rate city after a significant increase in the mortgage rate.

Mortgage rates can rise further; regulators are strictly investigating illicit borrowing in the housing market.

The mechanism for managing the concentration of mortgage loans has been in place for two and a half months. Hainan, Guangdong, Beijing, Shanghai, Zhejiang, Shandong and a few other cities have successively issued related local regulatory requirements. Among these cities, Guangdong, Hainan, Zhejiang, Shandong and Sichuan have raised the ceilings of some banks on the ratio of mortgage loans to housing.

Besides the new regulations mentioned above, popular housing markets have successively issued new policies to tighten home lending. Almost all regions conduct strict investigations into illicit consumer loans and business loans in the housing market. Some regional housing construction bureaus require housing companies to strictly investigate the source of capital. Regional policies such as “Ten Shanghai Rules” and “Six Dongguan Rules” regulated with regard to setting purchase restrictions, increasing transfer costs and controlling loan amounts; Shanghai and Hangzhou include the sale of property by court order in the limitation; Shenzhen and Wuxi have standardized the order of second-hand housing transactions; Dongguan has also increased the down payment percentage for second homes from 40% to 50%.

In addition to the tightening of home loans, the control of mortgage amounts, the investigation of illegal capital for the purchase of homes, second-hand homes and second homes are key points for regulation. Mortgage rates are expected to rise further due to tight regulation in the real estate market. Meanwhile, the interest differential between individual business loans and home loans will widen further. The regulator has conducted the most stringent investigation into individual business loans to avoid illicit borrowing used to speculate in the housing market.

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