China Raises Key Interest Rates on Mortgages

[sharon sanders]

Chinese banks 'told to raise interest rates on third mortgages'

2 February 2010

The China Banking Regulatory Commission has told those working in the country's financial sector to raise interest rates on third mortgages in a bid to slow down the rapid growth of real estate prices in the country.

An insider told Bloomberg that the regulator also wants to see banks demanding bigger deposits from investors seeking to take out such property loans.

The crackdown also involves turning down people attempting to access capital for the purpose of "investment and speculation", as well as the banning of loans to property developers found to be delaying real estate sales or stockpiling land.

Under China's regulations, interest rates for second mortgages must stand at ten per cent higher than the benchmark lending rate, which currently stands at 5.94 per cent for loans lasting five years.


By Asim Shah

http://www.bobsguide.com/guide/news...raise_interest_rates_on_third_mortgages'.html

 

[sharon sanders]

Re: China Raises Key Interest Rates on Mortgages

<table border="0" cellpadding="0" cellspacing="0" width="653"><tbody><tr><td class="s18B_3D5B8C" style="padding-top: 8px;" align="center" valign="top" height="51">Bank of China abolished mortgage interest rates seven discount threshold of 8.5 fold increase </td></tr><tr><td class="s12_404040" align="center" height="28">

优讯-中国网china.com.cn/info　　时间： 2010-02-03　　责任编辑: 健儿​

U News - China Network china.com.cn / info Time: 2010-02-03 Editor: Kenji </td></tr><tr><td background="http://images.china.cn/images1/ch/09info/" height="1">
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视频播放位置​

Video location​

下载安装Flash播放器​

Download and install Flash Player​

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记者昨天从中国银行获悉，该行已于上周下发通知，将首套房的优惠利率由7折升至8.5折。​

Reporter learned yesterday from the Bank of China, the bank issued a notice last week, will be the first suite of the prime rate rose to 8.5 fold by 7 fold.

与此同时，中行已经全面停止了与中介的二手房合作。​

Meanwhile, the Bank of China has fully stopped co-operation with the intermediary of the second-hand housing.

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