Goldman Sachs says new China property buying rules could give a 'modest' growth impulse

<p> The People's Bank of China announced the lowering of existing mortgage interest rates for first-time homebuyers as well as the downpayment ratio in some cities.
</p><p>Info on this is here:</p><ul><li><a href="https://www.forexlive.com/news/china-to-cut-home-buyers-minimum-down-payment-and-mortgage-rates-20230831/" target="_blank" rel="follow" data-article-link="true">China to cut home-buyers' minimum down payment, and mortgage rates</a></li></ul><p>Separate to that from the PBOC two more major cities in China said they would allow people to take preferential loans for first-home purchases regardless of credit records. Guangzhou and Shenzhen moved on this easing on Wednesday. </p><p>Goldman Sachs said it assesses "a high possibility" that more big cities will follow suit in easing mortgages</p><ul><li>and that if the move was broadly implemented in large cities it "may provide a modest growth impulse to the property market", the magnitude of the boost was likely to be measured</li></ul>

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