The People’s Bank of China said the move would apply only to new mortgages. Photo: Reuters
China’s central bank sets new floors for mortgage rate in latest bid to curb speculation
- Rate for first-home buyers set at 4.85 per cent, while minimum for second-home buyers will be 5.45 per cent
- Analyst says the move will ‘help avoid property market overheating’
Topic |
China economy
The People’s Bank of China said the move would apply only to new mortgages. Photo: Reuters