Business Standard

Banks in nearly 90 Chinese cities cut mortgage rates: Report

Banks in nearly 90 Chinese cities cut mortgage rates in February in a bid to boost sales in a residential property market chilled by a prolonged liquidity crunch for many developers.

Photo: Bloomberg
Premium

Banks in nearly 90 Chinese cities cut mortgage rates; Photo: Bloomberg

Reuters Beijing
Banks in nearly 90 Chinese cities cut mortgage rates in February, a private research group said, in a bid to boost sales in a residential property market chilled by a prolonged liquidity crunch for many developers. Mortgage rates in 87 out of 103 cities surveyed by Beike Research Institute have come down, with 30 of them, including Beijing, leading with cuts of 5 basis points on average, in line with a similar decline in the five-year Loan Prime Rate (LPR) in January, the group said in a report published on Monday.
 
The mortgage rate reductions by commercial lenders followed two

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 22 2022 | 1:52 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com