Jianpu Technology (NYSE:JT)
BEIJING, BEIJING, 中国, October 19, 2020 /EINPresswire.com/ —
1. Mortgage Rates: National Level of Mortgage Rate Remained Stable with Average Mortgage Rate for Both First- and Second-Time Homebuyers Dropped Slightly by 1 BP on a Month-on-Month (MoM) Basis
According to surveillance data from Rong360 Big Data Research Institute across 674 bank branches and sub-branches in 41 major cities, in September 2020, the national average mortgage rate for first-time homebuyers and second-time homebuyers was 5.24% and 5.55%, respectively, (with data in statistics collected from August 20, 2020 to September 18, 2020), posting a decrease of 1 basis point (BP) on a month-on-month (MoM) basis.
2. Cities: Only 4 Cities Recorded More Than 5 BPs of MoM Changes in Mortgage Rate; The Number of Cities That Recorded Increased Second-Home Mortgage Rate Greater Than the Number of Cities That Recorded Increased First-Home Mortgage Rate
According to surveillance data from Rong360 Jianpu Technology (NYSE: JT) Big Data Institute across the 41 cities for September 2020 (with data in statistics collected from August 20, 2020 to September 18, 2020), 18 cities recorded MoM decrease in the average mortgage rate for first-time homebuyers. Among the 18 cities, Changchun and Suzhou saw a decrease of over 10 BPs. There are 7 cities seeing MoM increase of the first-home mortgage rate. Turning to the mortgage rate for second-time homebuyers, 15 cities saw MoM decrease of the rate. This number is less than the number of the city that recorded decreased first-home mortgage. 11 cities saw MoM increase in the mortgage rate and this number is greater than the number of the cities that recorded increased first-home mortgage.
In September 2020 (with data in statistics collected from August 20, 2020 to September 18, 2020), the mortgage rates in Beijing, Shanghai and Shenzhen remained at the same level as the last month; In Guangzhou, first-home mortgage rate decreased by 1 BP on a MoM basis, while second-home mortgage rate remain unchanged. Specifically, 5 banks lowered the mortgage rates to a lower level, one bank lift up the rate to a higher level.
In September 2020 (with data in statistics collected from August 20, 2020 to September 18, 2020), only 4 cities recorded more than 5 BPs of MoM changes in mortgage rate. The mortgage rates in Changchun has fallen the furthest with first-home mortgage rate decreasing by 17 BPs, and second-home mortgage rate decreasing significantly by 23 BPs. The mortgage rate in Suzhou further fell in September, posting a cumulative decrease of 82 BPs. Mortgage rate in Chengdu has increased for two consecutive months with increases of 5 BPs for both first-and second-time homebuyers.
Source: EIN Presswire