China cuts mortgage interest rates

China's central bank said it will cut mortgage interest rates for existing loans and launch a 300 billion yuan new lending program, aiming to reduce the number of unsold commercial properties on the market. On September 24, 2024, Pan Gongsheng, governor of the People's Bank of China (PBOC), or the central bank of China, revealed that China will cut interest rates on existing mortgages to be closer to the interest rates on newly issued mortgages and reduce the minimum down payment rate nationwide for second home purchases from 25 percent to 15 percent. แทงบอลยูโร