Wednesday, Sep 26, 2007
commercial banks to raise mortgage deposits to at least 40 percent for homebuyers who intend to buy a second apartment
chinadaily.com.cn: Mortgage rate may rise
Homebuyers at a real estate exhibition in Dalian, Liaoning Province. The government may raise the interest rate of mortgage lending to curb the fast rise in house prices and speculation in the real estate market.The central bank is likely to stipulate commercial banks to raise mortgage deposits to at least 40 percent for homebuyers who intend to buy a second apartment, according to the source.
Posted by chris @ 04:25 PM (257 views) Add Comment
2 Comments
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1. deepak said...
Just heard wake up to money for this money. The Quintine Summerville ( China correspondent) said that they banks had finished there stipulated money for mortgage for the whole year. So they are stopping any mortgages on second homes.
2. sirgoogle said...
Good move - should do this in the UK too,
Houses are for living in - not just an investment