Date
23 October 2017

Nanjing banks lift post-LNY mortgage rates, paper says

Several banks in Nanjing have significantly raised their mortgage rates after the Lunar New Year holiday, breaking with the industry practice of offering discounts during the period, National Business Daily reported Tuesday, citing a survey of 19 lenders by a real estate website. China Guangfa Bank, Ping An Bank (000001.CN) and China Everbright Bank (601818.CN) have raised their mortgage rates 30 percent above the benchmark rates. Last year, 10 in 23 banks offered a 15 percent discount on mortgage rates after the Lunar New Year holiday, the report said.

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