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China's banks may quicken mortgage rate cuts says Chinese media

China Securities Daily with the opinion piece saying banks may hurry along cuts to existing mortgage rates. Seems a little far-fetched to expect too much on this. Yesterday the People's Bank of China left the 5 year LPR unchanged. This is the rate that mortgage rates are based on. Earlier:China cut only one Loan Prime Rate, and less than expected - here's whyps. Here is the PBOC decision yesterday:PBOC Loan Prime Rates (LPR) CUT: 1-year 3.45% (prior 3.55%) & 5 year 4.2% (prior 4.20%)... Read More

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Posted: Aug 22 2023, 01:23

Author Name: forexlive

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