The 1-year LPR was 3.85 percent, and the 5+ year LPR was 4.65 percent.

Rong360 Big Data Research Institute monitoring data show that in July 2020 (data monitoring period for June 20, 2020 - July 17, 2020), the national average interest rate for first-suite loans, on the other hand, was 5.26%, down 2 BP from a year earlier, while the average interest rate for second-suite loans was 5.58%, both down 2 BP from a year earlier.(BP refers to Basis Point Basis Point) (BP) is used in finance, where 1 BP is equal to 1 percent of 1 percentage point, or 0.01 percent, so 100 BP is equal to 1 percent.)

Since the epidemic, the LPR has been adjusted several times, with the LPR for five-year periods or more down 15 BP from the end of last year, which has also brought about varying degrees of downward adjustments in mortgage rates across the country. According to the monitoring data of Rong360 Big Data Research Institute, the national first mortgage rate dropped 28 BP from the end of last year, and the second mortgage rate dropped 27 BP from the end of last year, both of which are much lower than the 5-year LPR drop.