Property News · August 10, 2018

Shanghai lowers first-home mortgage rates to revive market and boost economic growth


Two state-owned banks in Shanghai have lowered their first-home mortgage rates in an unprecedented move to ease buying restrictions after two years of controls to cool the overheated property market.
Borrowers will be eligible for a 10 per cent discount off the benchmark interest rate, up from a previous 5 per cent, at the Shanghai branches of the Industrial and Commercial Bank of China and the Agricultural Bank of China from Friday. This means the rate will be lowered to 4.41 per cent from 4….

Source : South China Morning Post
Read more…Shanghai lowers first-home mortgage rates to revive market and boost economic growth

You may also like...