Mortgage policy may be more variable as the housing market gets hotter

The policy is expected to be announced as early as next month as the housing market heats up, housing policy may become more variable. Some media recently learned that a number of commercial banks in Shanghai began to circulate a message, that is, on the basis of the benchmark interest rate of 30% of the preferential mortgage rate, may be halted from next January.　　The policy is expected to be announced as early as November this year. Shanghai Everbright Bank insiders said the news from the leadership level, "should not be groundless." "There is no formal documentation or guidance," said a credit manager at CCB's Shanghai branch. A credit manager at the Bank of Communications Shanghai Branch believes there is a theoretical possibility of canceling the preferential interest rate policy.　　But as interest rates float 30%, the preferential policy itself is more complex when it comes out, how to define the cancellation mode for different period of loan clients will be the key of policy adjustment. Last October, the People's Bank of China announced the new rules, starting from October 27, 2008, the rate of commercial personal housing loans to the downward adjustment to 70%, the minimum first payment ratio adjusted to 20%.　　By the end of 2008, virtually all banks had adjusted their lending ratios to old customers. "If the client's loan contract was to float 15% and then temporarily adjust to 30%, it would likely return to 15% next year," he said. How to adjust the customers who contracted after October 27 last year is not yet predictable. Next January, new signings will likely be implemented directly under the new rate standard.　　"An analysis by a banking community.　　But the central bank's news agency said it did not confirm the rumours. According to Beijing