Down payment on home loans in more than 30 cities has fallen to a low of 20%, and the interest rate has returned to the level of five years ago

Technology, finance, Automotive June 10, 2022 20:39 (GMT+8)
EqualOcean

According to incomplete statistics, since May, more than 30 cities, including Xi’an, Nanjing, Taiyuan, Nanchang, Fuzhou, Shijiazhuang and Yinchuan, have reduced the down payment rate for housing loans (including commercial loans and provident funds) to a minimum of 20%. At the same time, the interest rate of the home loan is also positive. According to the Rong 360 Digital Technology Research Institute’s tracking of home loan interest rates in 42 cities nationwide, the average interest rate for the nation’s first home loan in May was 5.03%, down 13 points. month-to-month basis; The average interest rate on second home loans was 5.36%, down 9 basis points month-on-month, essentially returning to the level of five years ago. Guanrongxue, an analyst at Zhuge Find Home Data Research Center, said, “The various policy supports released on the credit side have some positive impact on the market. They not only lower the threshold for buying homes, but strengthen the market’s willingness to consume. , stimulate the overall economic development, but also relieve the pressure on the urban inventory to some extent.”

About Matthew R. Dailey

Check Also

Bank of America Announces Small Business Down Payment Grant Program to Boost Growth of Women and Minority Businesses

New Special Purpose Credit Program Offers Down Payment Grants for SBA 504 and 7(a) Commercial …