Pursuits
China Steps Up Mortgage Controls in Some Property Markets
- Some banks in certain cities asked to halt new loans: people
- Runaway home prices have led to escalating curbs this year
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China’s government is stepping up efforts to contain runaway property prices, with the central bank clamping down further on mortgage lending in areas deemed overheated, people with knowledge of the matter said.
Some lenders in those cities have been asked to suspend distributing new home loans, said the people, who asked not to be named as the change hasn’t been made public. Central bank branches in the cities communicated verbally with lenders within their jurisdictions, said the people, who didn’t identify the affected cities or say how long the mortgage limits will last.