China Moves To Cut Mortgage Rates To Revive Housing Market
Edited By WION Video Desk
Published: Sep 30, 2024, 06:40 IST | Updated: Sep 30, 2024, 06:40 IST
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As part of its latest effort to stabilise the recession-hit real estate market, china has lowered borrowing rates on mortgages of up to $5.3 trillion, affecting millions of households. The people's bank of china said that homeowners will be able to renegotiate loan terms with their present lenders starting from November 1.
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