More Chinese Banks Likely To Lower Mortgage Rate: Daily

More banks will reduce mortgage interest rates to attract homebuyers as housing loans may become popular high-quality credit assets among banks amid current weak credit demand, the Economic Daily reported on the front page. Banks in major second-tier cities including Zhengzhou and Wuxi have lowered their first-home mortgage rates more than 150 basis points from the high point in 2021, while banks in four first-tier cities have also cut their mortgage rates moderately despite rising home prices month-on-month, the newspaper said.