People’s Bank of China (PBOC) Deputy Governor spoke on several topics on the supportive measures implemented to shore up the property market.
On existing mortgage rate cuts -
Most stock of existing mortgage loans interest rates will be adjusted October 25.
Accounts for 90% of existing mortgages.
On lowering minimum down payment ratios -
Have observed market confidence and sales as a result.
On real estate development loans -
Will be extended until end of 2026.