China’s banks may quicken mortgage rate cuts says Chinese media

China Securities Daily with the opinion piece saying banks may hurry along cuts to existing mortgage rates.

Seems a little far-fetched to expect too much on this. Yesterday the People’s Bank of China left the 5 year LPR unchanged. This is the rate that mortgage rates are based on.

Earlier:

• China cut only one Loan Prime Rate, and less than expected – here’s why

ps. Here is the PBOC decision yesterday:

• PBOC Loan Prime Rates (LPR) CUT: 1-year 3.45% (prior 3.55%) & 5 year 4.2% (prior 4.20%)

This article was written by Eamonn Sheridan at www.forexlive.com. Source