The People's Bank of China announced the lowering of existing mortgage interest rates for first-time homebuyers as well as the downpayment ratio in some cities.
Info on this is here:
Separate to that from the PBOC two more major cities in China said they would allow people to take preferential loans for first-home purchases regardless of credit records. Guangzhou and Shenzhen moved on this easing on Wednesday.
Goldman Sachs said it assesses "a high possibility" that more big cities will follow suit in easing mortgages
- and that if the move was broadly implemented in large cities it "may provide a modest growth impulse to the property market", the magnitude of the boost was likely to be measured
