Livesquawk reporting MNI saying that the PBOC will ease its mortgage policy
We earlier had headlines that there was a press conference with a special announcement, which then got debunked by the PBOC press office. This news is unconfirmed as of yet
- China to lower down payment requirement on 2nd homes to 40%
Reuters carrying some headlines now
- Wants to improve lending policies to promote healthy development of real estate market
- PBOC to provide financial services to promote residential housing
- Minimum down payment for first time buyers to be reduced to 20%
- Second home purchasers with no other outstanding mortgages to have 30% down payment requirement
With Chinese money flooding out to buy property overseas the PBOC is looking to stoke the domestic market
