China Eases Mortgage Rules in Some Cities

China’s central bank and banking regulator said on Tuesday they would adjust personal mortgage policy regulations for home buyers in some cities, the latest move to support residential property market.

The People’s Bank of China and the China Banking Regulatory Commission said in a joint statement the minimum down payment on mortgage will be lowered by up to 5 percentage points from the official 25 percent for first time homebuyers in some cities. The new requirement would only apply in cities not currently subject to restrictions on home purchases.

The main cities that have such restrictions are Beijing, Shanghai, Guangzhou and Shenzhen.

via CNBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza