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<ul><li>China’s central bank pledged to step up mortgage easing to support homebuyers, signaling further efforts to bolster the ailing property market.</li><li>Officials of the People’s Bank of China (PBOC) and the State Administration of Foreign Exchange vowed Tuesday to implement precise and differentiated housing credit policies based on the specific conditions of each city and continue guiding commercial banks to relax residential mortgage rules.</li><li>Lenders should adjust mortgage rates for existing loans in an orderly manner to support people’s housing needs, the officials said at a meeting to outline their agenda for the second half of the year.</li></ul>

China’s central bank pledged to step up mortgage easing to support homebuyers, signaling further efforts to bolster the ailing property market.Officials of the People’s Bank of China (PBOC) and the State Administration of Foreign Exchange vowed Tuesday to implement precise and differentiated housing credit policies based on the specific conditions of each city and continue guiding commercial banks to relax residential mortgage rules.Lenders should adjust mortgage rates for existing loans in an orderly manner to support people’s housing needs, the officials said at a meeting to outline their agenda for the second half of the year.

China Merchants Property Develpmt (200024 CH)

Central Bank Vows Further Mortgage Easing to Support Housing