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The mortgage interest rate for first....>

CHINA PRESS
CHINA PRESS: The mortgage interest rate for first home purchases rose to 5.22%
on average in September, the ninth straight increase, but the size of the rise
was smaller than previous increases, the Economic Information Daily reported
Friday, citing analysts. The mortgage rate is likely approaching its peak since
the current rate is now 1.06 times the benchmark rate, the report said. The time
that banks are taking to approve mortgage loans has increased because banks are
being more cautious about extending loans due of their limited credit quotas.
This problem is expected to worsen in the fourth quarter and early  next year as
banks strictly control the increase in their mortgage lending, the report
warned. (Economic Information Daily)

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