China Cuts Key Lending Rates to Support Growth
Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. Since the Sept. 24 measures, the CSI300 Index has broken records for daily moves and is up more than 14% overall. The yuan is down 1% against the dollar in that period.
PBoC cuts loan prime rates
The one-year loan prime rate (LPR) was cut from 3.35% to 3.1%, while the five-year LPR was lowered from 3.85% to 3.6%, the People’s Bank of China (PBoC) said in a statement. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.
The current loan prime rate (LPR) is 3.1 percent, while that for five years or more is 3.6 percent. This reduces the amount a ...
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The Tennessee Department of Financial Institutions has announced a new maximum interest rate of 12% per annum.
At today’s average HELOC rate of 8.88%, which assumes an 80% LTV, borrowing $100,000 on a 10-year repayment term equates to a ...
Oil and natural gas prices initiated a rebound after the PBoC’s Loan Prime Rate cuts, but the overall trend remains bearish.
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