Starting Friday, China’s six largest national banks will introduce a new pricing system for existing mortgage rates.
Previously, mortgage rate adjustments could only occur once a year, but now homebuyers have more flexibility. They can ask banks to adjust the repricing period to either three or six months whenever they choose or stick with the one-year option.
At the margin this is another boost for the housing sector. At the margin.
Earlier in the month mortgage rates were cut:
Many Chinese banks have cut mortgage rates today (cuts were announced earlier this month)
This article was written by Eamonn Sheridan at www.forexlive.com.
