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People’s Bank of China dep. governor says rate cut applies to 90% of existing mortgages

People’s Bank of China dep. governor:

On existing mortgage rate cuts

  • most stock of existing mortgage
    loans interest rates will be adjusted October 25
  • Accounts for 90% of
    existing mortgages

On lowering minimum down payment ratios:

  • Have observed market
    confidence and sales as a result

On real estate development
loans:

  • Will be extended
    until end of 2026

Over the weekend banks in China confirmed mortgage rate cuts:

This article was written by Eamonn Sheridan at www.forexlive.com.

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