Mortgage Rate Lowered Too

After the change of Airline Fuel Surcharge, the lower of housing mortgage rate is even a bigger news today. Friends are running round to tell friends that the mortgage rate has lowered to 70% of the original level. That is huge amount of money for many people. All the four major banks in China joined the campaign - Bank of China, China Construction Bank, China Bank of Commercial and Industry, and China Bank of Agriculture... Local banks like Bank of Shanghai also issued news about lowering the rate.

It seems foreign banks in China like Citigroup didn't response to this trend yet.

by Jian Shuo Wang on January 4, 2009 under Banks

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Comments

Thanks for the news!

Posted by: Michelle on January 5, 2009 12:03 AM

Sounds like you are just a few months/weeks behind the US in these matters. Maybe that means your country is taking steps soon enough to avert the worst of the problems faster than we have.

Fingers crossed for the world economy to make a speedy recovery in 2009!

Posted by: Carroll on January 5, 2009 1:01 AM

Not sure about the speedy recovery, Carrol. While I hope the people in China don't suffer too much from this economy downturn, its seems the housing bubble in China will ultimatly end in a bust...

Posted by: STLPlace on January 5, 2009 11:57 AM

Hi,

It's really glad to find your blog , now it's a very good place for me to improve my English...:)

Posted by: Tracy on January 12, 2009 3:48 PM