According to a reliable source, commercial banks are mulling a new plan to increase the mortgage down payment ratio. In secondhand house transition, the mortgage down payment ratio will take into consideration the house's original price and its current price.
Prices of secondhand housing have been surging in recent years. Based on the current 30 percent down payment ratio, commercial banks will carry much bigger risks with the rocketing housing price, the source said.
For more details, please read the full story in Chinese. (http://www.cs.com.cn/xwzx/03/200708/t20070816_1179399.htm)
(China.org.cn August 16 2007)
