Via the People's Bank of China ICYMI.
- Chinese local governments can relax the floor on mortgage rates for first home buyers in some cities in phases
- a bid to support the property market
- Localities would be allowed to decide on whether to maintain, lower or scrap the floor on mortgage rates for first home buyers by the end of 2022, the People's Bank of China (PBOC) said in a statement
- For cities where the selling price of new commercial residential housing posted month-on-month and year-on-year declines between June and August 2022, the lower limit of mortgage rates would be relaxed, the central bank said.
