PBoC Deputy Governor: Rate Cut Applies to 90% of Existing Mortgages

The Deputy Governor of the People’s Bank of China (PBoC) spoke on various issues related to the support measures implemented to shore up the real estate market.

Key points

About existing mortgage rate cuts –

Most existing mortgage loan interest rates will be adjusted on October 25.

It represents 90% of existing mortgages.

On the reduction of minimum down payment ratios –

Confidence in the market and sales have been observed as a result.

About loans for real estate development –

They will extend until the end of 2026.

Source: Fx Street

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