Property News · January 9, 2018

Homeowners should brace themselves for rising mortgage rates as curbs on speculators continue


Mainland homebuyers could face higher financing costs this year as lenders are expected to raise mortgages rates to curb housing speculation, and help with the country’s nationwide efforts to slash debt.
In 35 major cities, average mortgage rates for first-time homebuyers rose to 5.38 per cent in December, up 0.93 percentage points than a year ago, according to financing and loan service site Rong360.
The average rate is the equivalent to 1.1 times the benchmark rate set by the central…

Source : South China Morning Post
Read more…Homeowners should brace themselves for rising mortgage rates as curbs on speculators continue

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