First-home Mortgage Rate in Shenzhen Drops to 3.85% as LPR H…

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BEIJING, February 22 (TMTPOST)—China’s property market is injected with a strong boost as the five-year loan prime rate (LPR) was lowered by 25 basis points to 3.95% from 4.20% on Tuesday, while the one-year LPR was left unchanged at 3.45%.Most new and outstanding consumer loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages an