美国抵押贷款利率进一步下降，在美国房地产市场上披荆斩棘的买家所面临的压力有所缓解

• During China's May Day holiday, the Hang Seng Index in Hong Kong saw a significant rise, achieving nine consecutive days of gains by May 3, rebounding over 20% from its January low and entering a technical bull market. Concurrently, the Shanghai Composite Index also showed positive performance, rising to around 3155 points by May 9.
• Positive outlooks on China's market were expressed by foreign institutions like BNP Paribas and UOB Kay Hian, attributing confidence to Chinese government's supportive measures for capital market health and adjustments in real estate policies. These included easing restrictions on property purchases and sales.
• The central government's April meeting highlighted ongoing economic challenges such as insufficient demand and high operational pressures on businesses. It emphasized the importance of real estate as a drag on economic performance while discussing new policy measures to optimize housing supply and demand.

【本文系数据通用户提前专享】房地产企稳攸关中国经济，本轮复杂性远超过往。如何扭转预期？

美国抵押贷款利率在连续上涨五周后首次下滑

• In Huizhou, Guangdong, and other parts of China, real estate developers and intermediaries are promoting "zero down payment" schemes to stimulate sales amid a sluggish property market. These practices include developers covering part of the down payment or offering significant discounts, leading to actual transaction prices being lower than the contract prices.
• The phenomenon of low or zero down payments is not unique to Huizhou but is also observed in cities like Chongqing and Dongguan. Regulatory bodies have deemed such practices as violations, highlighting risks including distorted transaction data and potential financial instability reminiscent of the U.S. subprime mortgage crisis.
• The real estate market downturn has led to developers cutting prices drastically to maintain cash flow, with some areas witnessing price drops over 20% within a year. Despite regulatory efforts to curb low down payment deals, these practices persist due to the current economic pressures on both buyers and sellers, raising concerns about long-term market stability and accurate data reporting.

隐蔽的低首付现象令统计数据出现偏离

【本文系数据通用户提前专享】隐蔽的低首付现象令统计数据出现偏离

2024年“三大工程”进入实质性落地期，各省份推进筹集建设配售型和配租型保障性住房，推动城中村改造

就在房地产市场进入关键的春季销售季节之际，美国的抵押贷款利率升至去年12月中旬以来最高水平

在潜在购房者继续面临负担能力挑战之际，美国的抵押贷款利率创下去年10月以来的最大涨幅

这波行情与新冠疫情期间网红股热如出一辙，当时大量短线投机者涌入少数亏损的公司希望在股价飙升时快速发笔横财

美国抵押贷款利率继连续两周上升后下跌至近八个月来的最低水平

总量需求偏弱的背景下，本轮补库对中国出口的拉动或集中在家电、家具等地产链，金属、机械等建筑施工链，服装纺织等消费链

2023年10月末，美国国债的外国投资者中，第一大持有者是日本，占14.5%，第二是中国，占10.2%

美国抵押贷款利率继续下降，至5月份以来的最低水平

危机应对要快速有力，干预措施出台过晚可能会适得其反。这是微妙的平衡。危急时刻，政府不作为或延迟作为可能会导致问题进一步恶化

美国抵押贷款利率四个月来首次跌破7%，令饱受负担能力问题困扰的美国住房市场暂获喘息之机

美国抵押贷款利率连续第五周下降

美债市场、数据以及中国外汇管理机构的投资行为比普通人想象的复杂，“以讹传讹”现象非常严重。“中国减持美债”六个字三个词组，都容易被误用