China considers allowing refinancing on $7 trillion in mortgages, sources say

Quick Summary:

Plan would let homeowners switch banks for cheaper loans.

In May, the central bank scrapped a nationwide mortgage rate floor for first and second home purchases.

The mortgage plan would add further pressure on the nation’s banks, which Beijing has relied on to help revive the flagging economy.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChina

Topics: Cent Property Mortgages Year Banks Lower Bank China’s Costs First Mortgage

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-30 @ 13:03:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 740 words

Reading Time: 5 minutes read

Sentences: 37 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 22304977

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About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

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Year Established: 1845

Headquarters: Singapore

News Last Updated: 3 hours ago

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Publisher ID: #25

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