China's ICBC and Agricultural Bank of China to lower rates for existing first-home mortgages

BEIJING, Sept 7 (Reuters) - Two of China's major state banks said they will start to lower the interest rates on existing mortgages for first-home loans, according to statements released by the banks on Thursday.

Industrial and Commercial Bank of China Ltd (ICBC) and Agricultural Bank of China said qualified clients can apply for lowering existing mortgage rates from Sept. 25. (Reporting by Ziyi Tang and Ryan Woo; Editing by Tom Hogue)