China Real Estate to Receive Improved Credit Access: Yicai

China's credit supply for residential housing is expected to rebound steadily in Q4, as the real estate credit environment is improving with mortgage interest rates in 90 cities in China falling in October from September by 1 bp, Yicai.com reported citing a report by Beike Research Institute. The average interest rate for first-time buyers in 90 cities was 5.73% while that for second-time buyers was 5.99%, both lowered by 1 bp from the previous month. Though a major easing is unlikely, recent comments by top policymakers indicate that the tightest moment of credit supply has passed, as the credit tightening since Q2 has led to sharp declines in home sales, land sales and many overseas debt defaults by developers, the newspaper said.