NBK asks Shanghai lenders to raise mortgage rates



Rrepeats the story from Saturday without changes in the text

SHANGHAI, July 24. (Reuters)According to media reports, China’s central bank has ordered lenders in Shanghai to raise mortgage rates for first-time homebuyers to 5% from 4.65% as the government ramps up efforts to contain the overheated real estate sector.

The Shanghai branch of the People’s Bank of China (PBOC) has also ordered the city’s banks to raise mortgage rates for people who buy second homes from 5.25% in Shanghai to 5.7% starting Saturday, the official China Securities Journal reported. Saturday, no source indicated.

NBK Shanghai declined to comment.

(Reporting by Samuel Shen, Zhang Yang and Vidya Ranganathan, edited by Robert Biersel)


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