China lowers minimum mortgage down payment ratios to 15% for first-home purchases and 25% for second-home purchases.
China lowers minimum mortgage down payment ratios to 15% for first-home purchases and 25% for second-home purchases as part of measures to boost the sluggish property market. The People's Bank of China and National Financial Regulatory Administration announced these changes. Additionally, the central bank abolishes the floor level of interest rates for mortgages at the national level, allowing local branches to decide independently.
May 17, 2024
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