People's Bank of China dep. governor:

On existing mortgage rate cuts

  • most stock of existing mortgage loans interest rates will be adjusted October 25
  • Accounts for 90% of existing mortgages

On lowering minimum down payment ratios:

  • Have observed market confidence and sales as a result

On real estate development loans:

  • Will be extended until end of 2026

Over the weekend banks in China confirmed mortgage rate cuts:

pboc