Bank of China (BOC) to Increase Interest rates for House Loans Next Week
Published:
2010-04-26
The Bank of China (BOC) announced that it will increase the interest rates for housing loans issued to those purchasing existing properties - a category which mainly refers to previously owned housing. According to the bank, first-home buyers will now be provided with a 15%, rather than the previous 30%, discount on the base interest rate. The move which lifts the interest rate from 4.16% to 5.05% represents a 89 basis points jump in the interest rate for many first-home buyers. The three other big state-owned banks have announced similar hikes in interest rates.
Source
Information Times
Google Translation
Source
Information Times
Google Translation
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