Keelung's Mortgage Rate of 2.60% Is Highest in Taiwan; Kinmen's 2.28% Is Lowest
Statistics on newly originated mortgages by county and city for Q2 of ROC Year 115 show a 0.32 percentage point gap between the average rates in Keelung City and Kinmen County.
- According to the Joint Credit Information Center, in Q2 of ROC Year 115 Keelung City had the highest mortgage rate at 2.60% and Kinmen County had the lowest at 2.28%.
- The average mortgage rates in Keelung City and Kinmen County differ by 0.32 percentage points.
- Among the six special municipalities, Taoyuan City is highest at 2.46% and Tainan City is lowest at 2.41%, a gap of 0.05 percentage points between the highest and the lowest.
The statistics cover 21 counties and cities. Keelung City's average loan rate is 2.60%, accounting for 0.69% of the total amount of newly originated mortgages, with a weighted average approved loan-to-value ratio of 70.71%. Kinmen County's average loan rate is 2.28%, accounting for 0.09% of the total amount of newly originated mortgages, with a weighted average approved loan-to-value ratio of 68.22%.
Taitung County's average rate is 2.52% and Miaoli County's is 2.49%, both higher than most major metropolitan areas. Yunlin County's 2.29% is the second lowest in Taiwan, Yilan County and Nantou County are both at 2.35%, and Changhua County is at 2.38%.
Among the six special municipalities, Taoyuan City is first at 2.46%, followed by Kaohsiung City at 2.45%, Taichung City and New Taipei City both at 2.44%, Taipei City at 2.43%, and Tainan City last at 2.41%. Counties and cities with higher rates do not necessarily have higher housing prices.
Economic Daily News calculated that, for a NT$10 million loan with a 30-year term, equal principal-and-interest repayment and a fixed rate, the monthly payment differs by about NT$1,600 between an annual rate of 2.60% and 2.28%; over the full 30 years, total repayment could differ by several hundred thousand NT dollars.
County and city averages only show the overall picture. The rate an individual homebuyer actually gets will vary with personal credit, income and debt, the loan-to-value ratio, the collateral conditions of the property, and each bank's lending policy.
People who want to buy or trade up should not treat the county or city average rate as their own rate; actual terms depend on individual circumstances and the bank's lending policy. Bank industry representatives said that when comparing offers, besides the rate, one should also look at the approved loan-to-value ratio, the loan term, the grace period and early repayment rules. People who already have a mortgage can also assess how future rate changes may affect their household cash flow.
Do the math: monthly payment at this price
- Down payment
- 300 × NT$10K
- Monthly payment
- NT$46,305
The default rate of 2.321% is the central bank’s published August average rate on new mortgages at the five major banks. Equal monthly payments, no grace period; the bank’s approval is final.
Quick quiz
2 questions; pick an answer to see the explanation
- Which county or city had the lowest average rate on newly originated mortgages in Q2 of ROC Year 115?
- Among the six special municipalities, which had the highest average rate on newly originated mortgages in Q2 of ROC Year 115?
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Original：中央銀行115年第2季新承做房貸-縣市別 · We only post summaries and key points. Read the original for the full story.
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