19 November 2018

China banks tightened mortgage loans further in Dec, paper says

Chinese banks had tightened property mortgage loans further in December, with 40 out of 62 cities surveyed indicating that lenders had suspended accepting mortgage applications during the month, Yangcheng Evening News reported Wednesday. Meanwhile, interest rates on such loans have gone up by 5-30 percent over the benchmark rates, with the increase in rates for second-homes even higher at 10-40 percent and taking the interest rate up to 9.17 percent, the report said. Industry sources suggested that mortgage applications approval will remain tight and that interest rates are unlikely to record any big decline this month, the report said.

– Contact HKEJ at [email protected]



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