2014-08-20

Some Beijing Banks Again Discounting Mortgages

Some Beijing banks are offering mortgage rates 10% below prime.

北京房地产市场再现9折利率 专家称打折仅是少数
Yesterday, the chain of family property and CITIC [ Introduction News ] Bank announced the purchase by the chain of family property second-hand housing buyers who apply for CITIC bank loans, Beijing's first suite will enjoy 10% discount on the lowest interest rate.

Reporters learned from a number of intermediary companies, the current benchmark interest rate is the main Beijing loan market, only three banks to implement the first suite of 10% interest rates . Among them, Beijing Rural Commercial Bank and CITIC Bank has for the first set of mortgage turned off, after entering in August, China Merchants [ Introduction News ] banks have started offering off, but requires deposit equivalent to 15% of the loan amount amount as a loan guarantee.

Beijing Centaline chief analyst Zhang Dawei that the current discount of only a small number of banks, yet there is a substantial loosening of credit, market momentum can be sustained remains to be seen.

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