BLBG: China Eases Mortgage Requirement as Economic Slowdown Worsens
China cut the minimum down payment requirement for first-time homebuyers, stepping up support for the property market amid an economic slowdown.
The reduction to 25 percent applies to people buying homes in cities that don’t have home-purchase restrictions, the People’s Bank of China said in a statement on its website on Wednesday. The previous down payment requirement was 30 percent.
