BEIJING / RankWire.AI / – China maintained its benchmark lending rates in September, leaving the one-year loan prime rate at 3.0%. The over-five-year LPR also remained at 3.5%, based on the official September 20 fixing. Many lenders reference the longer-term rate for mortgage pricing. The decision kept both benchmarks unchanged from August.
People’s Bank of China authorized the National Interbank Funding Center to announce the September loan prime rates. These rates will stay valid until the next scheduled LPR release. The one-year LPR is a key benchmark for many corporate and household loans. The over-five-year rate mainly influences mortgage and long-term borrowing costs.
This stability in rates coincides with new economic data covering lending, housing, and consumer prices. In August, China’s consumer price index increased by 0.8% year-on-year. Prices also grew by 0.4% compared to July. These figures offer a snapshot of current price trends, with the September benchmarks remaining steady.
The mortgage rate stays at 3.5%
Data on China’s housing market reveal notable differences across cities and segments. In August, new home prices in first-tier cities increased by 0.1% from July. Shanghai saw a 0.4% rise, while Guangzhou and Shenzhen gained 0.1% and 0.2%, respectively. Beijing experienced a 0.2% decrease during the same period.
Real estate investment reached 4.798 trillion yuan in the first eight months of 2026. This marked a 19.9% decline from the same period last year. Residential investment fell by 19.7% to 3.702 trillion yuan. Sales of newly built commercial properties amounted to 4.747 trillion yuan, down 13.0% year-on-year.
Latest property and credit figures reinforce current LPR rates
Between January and August, new commercial property sales by floor area totaled 498.8 million square meters. This was a 12.1% drop from the previous year. Residential sales area decreased by 13.0%, while sales value declined by 13.1%. Property developers’ individual mortgage loans totaled 684.6 billion yuan during this period, representing a 22.4% decrease.
By the end of August, China’s total social financing was 464.8 trillion yuan. This was a 7.2% increase compared to the previous year. Loans to the real economy in Renminbi stood at 278.63 trillion yuan, a 5.0% annual rise. The social financing stock included 103.69 trillion yuan in government bonds, up 13.5%. With these figures in mind, September’s one-year LPR remains at 3.0%, and the over-five-year mortgage rate stays at 3.5%.