A couple watching apartments under construction in Hangzhou on September 5, 2016. Photo: Bloomberg
A couple watching apartments under construction in Hangzhou on September 5, 2016. Photo: Bloomberg

Chinese banks raise mortgage rates, helping to rein in runaway prices that puts housing affordability further out of reach

  • Shenzhen, Nanchang, Hangzhou are among the cities that have seen rising mortgage rates for first-time borrowers and second-home buyers
  • The national average mortgage rate for first-home buyers rising 11 basis points since January to 5.33 per cent in May

Topic |   Property financing
A couple watching apartments under construction in Hangzhou on September 5, 2016. Photo: Bloomberg
A couple watching apartments under construction in Hangzhou on September 5, 2016. Photo: Bloomberg
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