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Real Estate Briefing - Categorized | Market Moves, Mortgage, Regulatory more

In China’s hottest property market, mortgage rules get tougher

Posted on 11 May 2011

Two of China’s biggest banks have given some of their branches discretion to raise the minimum down payment and mortgage rates for first-time home buyers in areas where prices have surged, signaling growing concern among banks about real-estate bubbles.
Branches of China Construction Bank Corp, the country’s largest mortgage lender by assets, have raised the minimum down payment to 40% from the official minimum 30% required by the banking regulator in the wealthy coastal province of Zhejiang, an official at the bank’s central headquarters said Tuesday……………………………………….Full Article: Source


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