Here Are 8 Strategies For Negotiating Better Mortgage Rates
December 1, 2021
January 20, 2022
Shares of Chinese property developers have jumped in Hong Kong as China's central bank cut a key mortgage rate for the first time in almost two years.
The decision comes as concerns grow about a slowdown in the world's second largest economy amid Omicron outbreaks.
At the same time major Chinese property firms, like crisis-hit Evergrande, are struggling to make debt repayments.
On Monday, China surprised markets by cutting rates on medium-term loans for the first time since April 2020.
On Thursday, the People's Bank of China (PBOC) cut its five-year loan prime rate, which is the reference rate used for mortgages, from 4.65% to 4.6%.
The PBOC also cut its benchmark lending rates for corporate and household loans for the second month in a row.
Chinese real estate firms Sunac China, Shimao China and Logan Group saw their stock prices rise by more than 10%, while crisis-hit Evergrande's shares were 5.8% higher.
Investors were also reacting to reports that Chinese regulators may ease restrictions on their access to pre-sale funds.
The PBOC's moves come as Beijing tries to protect the country's economy from amid growing signs that growth is slowing.
On Monday, official figures showed that gross domestic product grew by 4% for the last three months of 2021 from a year earlier.
That was better than most economists had predicted but was a lot slower than the previous quarter.
In another sign of weakness, retail sales growth for December fell to 1.7%.
January 26, 2021
November 27, 2021
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