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Chinese yuan strengthens after PBOC rolls out mortgage measures

The piecemeal approach to China stimulus hasn't impressed the market yet but today's announcements on mortgages have captured more of the market's attention.The yuan is trading at a two-week high after a series of steps on mortgages.The PBOC today said existing mortgage rates would be lowered from Sept 25.The new rules say down-payments for first homes should be no less than 20% and down-payments for second homes no less than 30%. For second home purchases, the rate floor is now no lower than LP... Read More

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Content Topics

Chinese

Yuan

Strengthens

After

Pboc

Rolls

Mortgage

Measures

Forex

Posted: Aug 31 2023, 12:50

Author Name: forexlive

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