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MNI BRIEF: China's Outstanding Mortgage Loans Fall Further

MNI (BEIJING) - China's outstanding housing mortgage loans fell for a fifth straight quarter given early repayments from property owners amid sluggish market sentiment.

The balance of mortgages fell by 2.1% y/y to CNY37.79 trillion by end-Q2,surpassing the previous quarter's 1.9% decline, data released by the People’s Bank of China on Friday showed. The outstanding developers’ loans increased by 2.8% y/y to CNY13.77 trillion. (See MNI EM: Big Price Cuts Needed To Lure China Homebuyers-Advisors)

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MNI (BEIJING) - China's outstanding housing mortgage loans fell for a fifth straight quarter given early repayments from property owners amid sluggish market sentiment.

The balance of mortgages fell by 2.1% y/y to CNY37.79 trillion by end-Q2,surpassing the previous quarter's 1.9% decline, data released by the People’s Bank of China on Friday showed. The outstanding developers’ loans increased by 2.8% y/y to CNY13.77 trillion. (See MNI EM: Big Price Cuts Needed To Lure China Homebuyers-Advisors)

Keep reading...Show less