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China to relax lower limit of first home loan interest rate in some cities

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Published Thu, Sep 29, 2022 · 10:14 PM
    • Localities will 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.
    • Localities will 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. PHOTO: AFP

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    LOCAL governments in China can relax the interest rate limit for commercial housing loans for first home buyers in some cities in phases, the central bank said on Thursday (Sep 29).

    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 on its website. REUTERS

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