MoH and PBOC Plan More Housing Bailout Measures, Cut Down Payments and Reduce Mortgage Rates

The Ministry of Housing and PBOC are reported to support regulations being prepared which would cut the down payment for first home purchases to 20% and also lower the down payment and interest on second homes. The move comes as two cities have already implemented similar easing policies: Jinan and Guangzhou.

The Economic Observer newspaper reporter was informed by the multi-confirmation: Housing and Urban-Rural Development (hereinafter referred to as "Ministry of Housing") is preparing relevant documents published on the stability of housing consumption, including two important observations: First, use the fund to buy the first suite of down payment the proportion dropped to two percent; the second is lower second home loan down payment, lower mortgage rates. The document has been supported by the Ministry of Finance and the Central Bank.

In fact, support the use of drop down payment fund measures, local governments have already been launched, Jinan, Guangzhou has been the implementation of the policy. Newspaper exclusively learned that the Ministry of Housing is preparing to submit "Housing Fund Management Ordinance (Revised)," the State Council, the citizen housing fund use will be a major breakthrough, Jinan and Guangzhou, just ahead.

A source close to the central bank's research bureau, told reporters: "should the local requirements, before the central bank survey of mortgage rates over the basic situation, mortgage rates will be adjusted, and now finds local government financial regulation is simply the mortgage finance system, so the two sets of mortgage down down payment troughs twelve high voice. "

...March 18, Guangzhou announced by fund the purchase of 90 sq m first home reduced to tewnty percent down payment. Reduce the down payment to purchase the property is becoming a new keyword.

...March 16, Jinan City, issued a notice to the first owner-occupied housing has been cleared for home loans, in order to improve the living conditions of their own homes to buy two sets of ordinary housing, apply for family housing provident fund loans, the implementation of the first suite fund loans policy that buy 90 square meters floor area (including) the following real estate down payment ratio of 20%.

Chongqing Mayor Huang Qifan, held in March this year, Chongqing Land Resources and Housing Management Conference, to explore the possibility to reduce the down payment, "28 to open the first suite, Panax open, half-open second suite, six four, the third suite is the implementation of a full down payment. "

EO: 住建部支持下调公积金购房首付比例

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