BEIJING (Reuters) - Chinese local governments can relax the interest rate limit for commercial housing loans for first home buyers in some cities in phases, the central bank said on Thursday.
Localities would be allowed to decide on whether to maintain, lower or scrap the floor on mortgage rates for first home buyers by the end of 2022, the People's Bank of China (PBOC) said in a statement on its website.
(Reporting by Ella Cao and Twinnie Siu; Editing by Alex Richardson)
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| 3.49 HKD | +0.87% | +4.18% | 172B | ||
