Lates News

Today, the loan market offered a lower price on the Loan Prime Rate (LPR) for the first time this year, with the 1-year and 5-year LPR both decreased by 10 basis points. Reporters learned from several banks in Shanghai that the interest rate for first homes has been lowered to 3.05% in the main urban areas, while the interest rate for second homes has been adjusted to 3.45%. In regions such as Lingang and Jiading, the interest rate for second homes is 3.25%. However, reporters from Caixin noticed that cities like Suzhou, Nanjing, and Hefei, which originally had a first home interest rate of 3%, have maintained that rate after today's LPR adjustment by reducing the markup. For example, in the Suzhou area, the original first home interest rate was 3.6% with a markup of 60 basis points, but after the LPR adjustment to 3.5% today, in order to maintain the 3% minimum, the rate will be executed at 3.5% with a markup of 50 basis points. (Caixin News).