May 2, 2017 / 1:35 AM / 3 months ago

MEDIA-Beijing banks hike mortgage rates to cool market further

1 Min Read

-- Source link: bit.ly/2qrpvN4

-- Eight major banks in China's capital Beijing city, including Industrial and Commercial Bank of China (ICBC) ,, and China Construction Bank Corp (CCB) ,, have eliminated discounts on mortgage rates for first-home buyers, effective from May 1. The banks also hiked the mortgage rates for second-home buyers, which is now set at 20 percent higher than the benchmark interest rate, also effective from May 1, state newspaper Security Times reported on Tuesday.

-- Note: Reuters has not verified this story and does not vouch for its accuracy

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