DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

China Relaxes Floor On First-Home Mortgage Rates In Some Cities

CHINA PRESS
MNI (Singapore)

Some Chinese cities suffering ongoing declines in home prices have been allowed to temporarily relax the floor on mortgage rates for first home buyers, The Beijing News reported citing a statement on the central bank website. For cities where new home prices posted month-on-month and year-on-year declines between June and August 2022, localities can decide on whether to maintain, lower or scrap the floor on first-home mortgage rates by the end of 2022, the statement said. The current floor rate of 4.1% is expected to be breached and this may trigger a new round of mortgage rate cuts in Q4, the newspaper said citing analysts. Among the 70 key cities monitored by the National Bureau of Statistics, 23 cities, including 8 second-tier and 15 third-tier cities, fit into the new policy, the newspaper said citing E-house China Research and Development Institution.

Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.